Citizens (NYSE:CIA) Shares Pass Above 200 Day Moving Average Following Weak Earnings

Citizens, Inc. (NYSE:CIA)’s stock price passed above its 200-day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a 200-day moving average of $4.35 and traded as high as $4.61. Citizens shares last traded at $4.54, with a volume of 88,802 shares.

The insurance provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Citizens had a return on equity of 11.50% and a net margin of 8.87%. The business had revenue of $63.47 million for the quarter, compared to analyst estimates of $64.66 million.

Wall Street Analyst Weigh In

Separately, Singular Research upgraded Citizens to a “strong-buy” rating in a research note on Monday, November 18th.

Hedge Funds Weigh In On Citizens

Several hedge funds have recently modified their holdings of CIA. Truffle Hound Capital LLC bought a new position in shares of Citizens during the 4th quarter worth approximately $1,511,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Citizens in the 4th quarter worth approximately $357,000. WINTON GROUP Ltd bought a new stake in shares of Citizens in the 4th quarter worth approximately $319,000. Bank of America Corp DE raised its holdings in shares of Citizens by 7,178.5% in the 4th quarter. Bank of America Corp DE now owns 78,026 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 76,954 shares during the period. Finally, 683 Capital Management LLC bought a new stake in shares of Citizens in the 4th quarter worth approximately $304,000. Institutional investors own 13.73% of the company’s stock.

Citizens Trading Up 4.5 %

The company has a market cap of $234.06 million, a P/E ratio of 10.91 and a beta of 0.11. The business’s fifty day moving average is $4.79 and its 200 day moving average is $4.35.

Citizens Company Profile

Citizens, Inc provides life insurance products in the United States and internationally. The company operates in two segments, Life Insurance and Home Service Insurance. The Life Insurance segment issues ordinary whole life insurance and endowment policies in the United States dollar-denominated amounts to non-U.S.