Citizens (NYSE:CIA) Posts Earnings Results, Beats Estimates By $0.01 EPS

Citizens (NYSE:CIA) released its quarterly earnings results on Thursday. The insurance provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01, Zacks reports. Citizens had a return on equity of 6.42% and a net margin of 4.57%.The business had revenue of $62.81 million during the quarter, compared to analysts’ expectations of $63.46 million.

Citizens Price Performance

CIA traded up $0.38 on Friday, hitting $6.13. 182,111 shares of the stock were exchanged, compared to its average volume of 162,420. The firm has a market capitalization of $307.95 million, a price-to-earnings ratio of 27.86 and a beta of 0.41. Citizens has a 12 month low of $2.90 and a 12 month high of $6.25. The business has a 50-day moving average of $5.53 and a two-hundred day moving average of $4.55.

Analysts Set New Price Targets

Several research firms have weighed in on CIA. Weiss Ratings reiterated a “hold (c)” rating on shares of Citizens in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Citizens from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Institutional Trading of Citizens

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in Citizens by 3,686.7% during the 2nd quarter. Bank of America Corp DE now owns 14,541 shares of the insurance provider’s stock worth $51,000 after buying an additional 14,157 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Citizens during the second quarter valued at $63,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Citizens during the second quarter worth $86,000. Invesco Ltd. acquired a new position in shares of Citizens during the second quarter worth $100,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Citizens in the second quarter worth $101,000. Institutional investors own 13.73% of the company’s stock.

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.