In a recent move that has caught the attention of investors, Gerald Shields, the President and CEO of Citizens, Inc. (NYSE:CIA), has made a significant purchase of the company's Class A Common Stock. According to the latest filings, Shields acquired a total of 16,000 shares at a price of $2.22 per share, which amounts to over $35,520 in investment.
This transaction follows a series of smaller purchases made through the Citizens, Inc. Stock Investment Plan, part of regular monthly payroll deduction. Earlier, on February 2 and March 1, Shields bought 696.2206 and 769.4984 shares at prices ranging from $2.57 to $2.84 per share, respectively. These transactions totaled approximately $3,954.
The accumulation of shares by Shields indicates a bolstering of his investment in the life insurance company, which is headquartered in Austin, Texas. Following the latest purchase, the CEO now owns a total of 168,724.2871 shares in the company.
Investors often look to the buying and selling actions of company executives as a signal of their confidence in the firm's future prospects. The recent acquisitions by Shields could be interpreted as a positive sign for Citizens, Inc., suggesting that the CEO has a bullish outlook on the company's value.
Citizens, Inc. specializes in life insurance and operates out of the state of Colorado. The company has been a part of the industry for many years and is known for its commitment to providing financial security to its policyholders.
The detailed transactions have been disclosed in accordance with SEC regulations, which require company insiders to report their trading activities involving their own company's stock. These filings provide transparency and ensure that all market participants have access to the same information.
InvestingPro Insights
The recent insider buying activity by Gerald Shields, President and CEO of Citizens, Inc. (NYSE:CIA), has been a notable event for the company, and the investment community is keenly observing the implications. To add context to these developments, InvestingPro provides some key data and insights that could give investors a better understanding of the company's current financial standing.
InvestingPro Data indicates that Citizens, Inc. has a market capitalization of $98.15M and is trading at a low earnings multiple, with an adjusted P/E Ratio of 4.02 as of the last twelve months ending Q4 2023. This could suggest that the stock is undervalued compared to earnings. Additionally, the stock's Price / Book ratio stands at 0.57, which might be attractive to value investors looking for stocks trading below their book value.
From a performance perspective, the company's stock has taken a significant hit, with a 1 Month Price Total Return of -27.84% and a 6 Month Price Total Return of -34.11%. Despite this, according to an InvestingPro Tip, the company has been profitable over the last twelve months, which may provide some reassurance regarding its financial health.
Another InvestingPro Tip highlights that the stock's RSI suggests it is in oversold territory, which could indicate a potential turning point for investors waiting for an opportune moment to enter the stock. For those interested in further analysis and additional InvestingPro Tips, Citizens, Inc. has 9 more tips available, which can be explored by visiting https://www.investing.com/pro/CIA. Moreover, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which could be a valuable resource for those looking to deepen their investment research.
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