In a recent transaction, Jon Stenberg, President and CEO of Citizens, Inc. (NYSE:CIA), purchased shares of the company's Class A Common Stock. The transaction, which took place on July 9, involved Stenberg acquiring 4,580 shares at a price of $2.59 per share, amounting to a total investment of $11,862.
This move by the CEO of Citizens, Inc., a company categorized under the life insurance industry, is noteworthy as it reflects a direct acquisition of shares, signaling a bolstering of his investment in the company he leads. The purchase was made public through a Form 4 filing with the Securities and Exchange Commission, dated July 12.
The acquisition of shares by a high-ranking executive like Stenberg often draws the attention of investors and market analysts, as it may be indicative of the executive's confidence in the company's future performance. For Citizens, Inc., with its headquarters located in Austin, Texas, transactions by key insiders are closely monitored for insights into the company's internal perspectives.
Investors and stakeholders of Citizens, Inc. can stay informed on the latest insider transactions and other company developments by reviewing public filings and company announcements.
In other recent news, Citizens Inc. has been spotlighted for its growth prospects. The company has been given a Buy-Long Term rating by Singular Research, which also set a price target of $3.50 for Citizens' stock, indicating their confidence in the company's future performance. The company has been recognized for its significant growth, with the number of new life policies issued more than doubling since fiscal year 2020. In addition to this, Citizens Inc. is expanding its reach through a white-label business strategy, which allows other companies to offer its insurance products under their own branding. These recent developments, including the Buy-Long Term rating from Singular Research, point to a promising outlook for Citizens Inc., as they continue to demonstrate growth and expand their market presence.
InvestingPro Insights
Following the recent purchase of shares by Jon Stenberg, President and CEO of Citizens, Inc. (NYSE:CIA), investors may be looking for deeper insights into the company's financial health and future prospects. According to InvestingPro data, Citizens, Inc. has a market capitalization of $130.04 million and is trading at a low earnings multiple, with a P/E ratio of 5.33 as of Q1 2024. This low P/E ratio could indicate that the company's stock is potentially undervalued compared to earnings, which might have been a factor in Stenberg's decision to increase his stake.
Moreover, the company has demonstrated a moderate revenue growth of 4.03% over the last twelve months as of Q1 2024, with a gross profit margin of 29.53%. Despite these positive metrics, an InvestingPro Tip highlights that net income is expected to drop this year, which could be a point of consideration for investors. Additionally, the company's stock has experienced a strong return over the last three months, with a price total return of 35.42%, possibly signaling a positive market sentiment in the short term.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available, which can provide further guidance on Citizens, Inc.'s financial position and outlook. Use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, and gain access to a wealth of expert insights that could help in making more informed investment decisions.
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