Citizens (NYSE:CIA) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Citizens (NYSE:CIA) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Shares of NYSE CIA traded down $0.08 during midday trading on Thursday, hitting $6.88. The stock had a trading volume of 585 shares, compared to its average volume of 68,746. The company’s 50 day simple moving average is $7.25. Citizens has a 1 year low of $6.30 and a 1 year high of $8.80.

Citizens (NYSE:CIA) last released its earnings results on Friday, May 10th. The insurance provider reported ($0.08) earnings per share for the quarter. The firm had revenue of $56.45 million during the quarter. Citizens had a negative net margin of 5.99% and a negative return on equity of 7.67%.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Citizens by 2.0% during the 4th quarter. BlackRock Inc. now owns 3,478,038 shares of the insurance provider’s stock worth $26,153,000 after purchasing an additional 69,365 shares during the period. Northern Trust Corp lifted its stake in shares of Citizens by 1.9% during the 4th quarter. Northern Trust Corp now owns 592,363 shares of the insurance provider’s stock worth $4,454,000 after purchasing an additional 10,897 shares during the period. Geode Capital Management LLC lifted its stake in shares of Citizens by 18.5% during the 4th quarter. Geode Capital Management LLC now owns 481,328 shares of the insurance provider’s stock worth $3,619,000 after purchasing an additional 75,186 shares during the period. Bank of America Corp DE raised its position in shares of Citizens by 63.5% in the 4th quarter. Bank of America Corp DE now owns 37,037 shares of the insurance provider’s stock worth $278,000 after buying an additional 14,383 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Citizens by 380.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 17,195 shares of the insurance provider’s stock worth $129,000 after buying an additional 13,614 shares during the period. Hedge funds and other institutional investors own 21.04% of the company’s stock.

About Citizens

Citizens, Inc, through its subsidiaries, provides life insurance products in the United States and internationally. It 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 international residents in approximately 20 countries through 1,110 independent marketing consultants, as well as through approximately 50 independent marketing firms and consultants throughout the United States.

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