Traders Purchase Large Volume of Citizens Put Options (NYSE:CIA)

Citizens, Inc. (NYSE:CIA) was the target of some unusual options trading on Friday. Investors purchased 3,001 put options on the stock. This is an increase of approximately 113% compared to the average volume of 1,407 put options.

Insiders Place Their Bets

In related news, Director Michael Philip Harwood acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $3.80 per share, with a total value of $38,000.00. Following the completion of the transaction, the director directly owned 11,096 shares in the company, valued at $42,164.80. This trade represents a 912.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Stenberg bought 12,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $3.65 per share, for a total transaction of $43,800.00. Following the purchase, the chief executive officer directly owned 389,574 shares of the company’s stock, valued at $1,421,945.10. The trade was a 3.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 27,376 shares of company stock worth $102,390 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Citizens

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of Citizens by 3,686.7% in the 2nd quarter. Bank of America Corp DE now owns 14,541 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 14,157 shares during the period. BNP Paribas Financial Markets lifted its position in Citizens by 92.1% during the third quarter. BNP Paribas Financial Markets now owns 10,724 shares of the insurance provider’s stock worth $56,000 after buying an additional 5,141 shares in the last quarter. Alliancebernstein L.P. acquired a new position in shares of Citizens in the 3rd quarter worth approximately $57,000. The Manufacturers Life Insurance Company purchased a new position in Citizens during the 2nd quarter valued at about $63,000. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Citizens during the fourth quarter worth $84,000. Institutional investors own 13.73% of the company’s stock.

Wall Street Analyst Weigh In

CIA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Citizens from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Citigroup initiated coverage on shares of Citizens in a research note on Monday, August 24th. They set a “buy” rating for the company. Freedom Broker initiated coverage on shares of Citizens in a research report on Monday, August 24th. They set a “buy” rating and a $5.50 target price for the company. Finally, Weiss Ratings downgraded shares of Citizens from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Citizens Stock Performance

Shares of NYSE CIA traded down $0.12 during midday trading on Friday, hitting $3.49. 3,991 shares of the company’s stock traded hands, compared to its average volume of 115,210. The stock has a market capitalization of $195.39 million, a price-to-earnings ratio of 16.62 and a beta of 0.43. The firm has a fifty day moving average of $4.52 and a 200 day moving average of $5.04. Citizens has a 1 year low of $3.46 and a 1 year high of $6.54.

Citizens (NYSE:CIA) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Citizens had a return on equity of 4.73% and a net margin of 4.55%.The business had revenue of $61.90 million during the quarter, compared to the consensus estimate of $63.85 million. On average, equities analysts anticipate that Citizens will post 0.12 earnings per share for the current year.

Citizens Company Profile

Citizens, Inc (NYSE:CIA) is a bank holding company headquartered in Conway, Arkansas. Through its wholly owned subsidiary, Citizens Bank of Northern Arkansas, the company provides commercial and consumer banking services to individuals, small businesses and corporate clients across Northern and Central Arkansas.

Citizens offers a range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside lending solutions such as residential mortgages, commercial real estate loans and consumer installment loans.