StockLogistics
3 years ago
Big chance at SP increase here imo
“Citizens Announces Q2 2021 Financial Results
Year-over-year earnings up $0.12 per share
AUSTIN, Texas, Aug. 5, 2021 /PRNewswire/ -- Citizens, Inc. (NYSE: CIA) today announced Q2 2021 financial results showing $0.10 earnings per share, a $0.12 increase over the prior year. The significant improvement is driven by higher realized gains and was positively impacted by higher premium revenue in the quarter due to focused sales campaigns and lower sales in the prior year as a result of the impact of the COVID-19 environment.
Gerald W. Shields, Vice-Chairman of the Board and interim CEO, said, "Premium revenue trends improved with the second quarter 3% above last year and 10% above the previous quarter resulting from our improving distribution capability, better service, and innovative new products. These improvements are core to our strategy and will remain key drivers of our performance across our business."
Mr. Shields went on to say, "In our Home Services Segment, we had one of the best quarters since 2017. We are receiving strong customer reception to our new whole life product, Security Plan Plus™, which utilizes digital technology to enhance the speed and ease of the application process. We remain focused on product innovation, customer experience improvements and operational excellence and are pleased with our early customer receptivity and trends—all leading indicators underlying long-term growth."
Q2 Highlights (versus Q2 2020)
Net income of $0.10 per share of Class A common stock up $0.12 per share vs. the prior year
Revenue up 9% primarily on realized investment gains
Claims and surrenders up 6%--Life Insurance segment up 13%, Home Services segment down (19%)
General expenses up 3% on higher rent on the new headquarters
Net income of $0.10 per Class A earnings share improved by $0.12 versus the prior year, largely on higher realized investment gains resulting from new investment opportunities. Net income was positively impacted by increased revenue and lower federal taxes.
Revenue increased by 9%, primarily driven by a $3 million increase to realized gains driven mainly by fair value increases from new investment opportunities in limited partnerships, a 3% increase in premiums and lower sales in the prior year due to the impact of the COVID-19 environment.
The overall number of policies issued increased by 82% and 17% versus last year and last quarter, respectively, due to enhancements made to our business operations and sales practices to meet changing customer needs.
In the Life Insurance segment, premium revenues were flat versus the prior year and 10% over the previous quarter on strong first year premiums. During the second quarter, the significant increase in first year premiums offset the decline in renewal premiums. We continue implementing new targeted sales campaigns and promotions to stimulate sales, improve the time to issue, and develop new business opportunities. In addition, we are benefiting from successful agent recruitment efforts with an 18% increase in active international agents. All of these initiatives contributed to a 60% increase in the number of policies issued versus last year and a 9% improvement over the first quarter.
In the Home Services segment, new business premiums increased 30% and 20% compared to the prior year and the prior quarter, respectively. The improvement was primarily due to expanding an automatic issue product offered to existing policyholders, which boosted the number of policies issued and produced a slight increase in average face values. Renewal premiums increased primarily due to continued strong collection efforts by independent agents and less pressure on disposable income of insureds as a result of government stimulus and assistance programs.
During the second quarter, the Home Services segment introduced a new whole life product, Security Plan Plus™, with digital technology, improving the speed and ease of the application process and with higher allowable face values. Security Plan Plus was designed with today's consumers in mind, offering a highly competitive product with a sleek combination of design, functionality, and value.
Claims and surrenders benefits increased by 6% versus the prior year, on a 13% increase in the Life Insurance segment. This segment experienced a 49% increase in death claims, including COVID-19 claims and a 28% increase in surrenders. As previously disclosed, surrenders have been increasing over the last several years primarily due to a combination of an aging block of business, with little to no associated surrender charges, coupled with the challenging economic conditions, especially in Latin America. Death claim benefits in the Life Insurance segment have also increased due to higher volume and a higher average amount of reported claims. At the same time, claims and surrenders in the Home Services segment dropped by 16%, on a 19% decrease in death claim benefits during the second quarter compared to the prior year, which had a high number of COVID-19 death claims.
General expenses were up 3% from the prior year driven by advertising costs for our new domestic product and increased rent related to the new headquarters location.
Segment Operations
Our Company is comprised of two operating business segments and other non-insurance enterprises as detailed below. Our insurance operations are the primary focus of the Company and are the lead income generators of the business.
Life Insurance
Our Life Insurance segment primarily issues U.S. dollar-denominated ordinary whole life insurance and endowment policies predominantly sold to non-U.S. residents located principally in Latin America and the Pacific Rim through independent marketing consultants. We began re-selling domestically in Florida in 2021.
Home Service Insurance
Our Home Service Insurance segment provides final expense life insurance and limited liability property insurance policies marketed to middle- and lower-income households, as well as whole life products with higher allowable face values in Louisiana, Mississippi and Arkansas, sold through independent agents and through funeral homes.
Other Non-Insurance Enterprises
Other Non-Insurance Enterprises primarily include the Company's IT and Corporate support functions. Their data is included in the segment data table to properly reconcile the segment information with the consolidated financial statements of the Company.
FOR FURTHER INFORMATION CONTACT:
Investor Relations PR@citizensinc.com
https://c212.net/c/img/favicon.png?sn=DA66664&sd=2021-08-05 View original content to download multimedia:https://www.prnewswire.com/news-releases/citizens-announces-q2-2021-financial-results-301349828.html
SOURCE Citizens, Inc.“
stocktrademan
9 years ago
$CIA recent news/filings
bullish 7.02
note earnings 3/10
## source: finance.yahoo.com
$CIA charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$CIA company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/CIA/company-info
Ticker: $CIA
OTC Market Place: Not Available
CIK code: 0000024090
Company name: Citizens, Inc.
Company website: http://www.citizensinc.com
Incorporated In: CO, USA
$CIA share structure
## source: otcmarkets.com
Market Value: $369,573,258 a/o Mar 03, 2016
Shares Outstanding: 49,080,114 a/o Aug 02, 2013
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value
$CIA extra dd links
Company name: Citizens, Inc.
Company website: http://www.citizensinc.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/CIA/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/CIA/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=CIA+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=CIA+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=CIA+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/CIA/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/CIA/news - http://finance.yahoo.com/q/h?s=CIA+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/CIA/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/CIA/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/CIA/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/CIA/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/CIA/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/CIA/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/CIA/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/CIA/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=CIA+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/CIA
DTCC (dtcc.com): http://search2.dtcc.com/?q=Citizens%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Citizens%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Citizens%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.citizensinc.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.citizensinc.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.citizensinc.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/CIA/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/CIA
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/CIA/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/CIA/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/CIA/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000024090&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/CIA/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/CIA/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/CIA/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/CIA/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=CIA&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=CIA
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/CIA/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=CIA+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=CIA+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=CIA
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=CIA
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=CIA+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/CIA/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=CIA+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/CIA.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=CIA
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/CIA/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/CIA/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/CIA/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/CIA/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/CIA
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/CIA
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/CIA:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=CIA
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=CIA
$CIA DD Notes ~ http://www.ddnotesmaker.com/CIA
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BlueAlien
8 years ago
Penny Roger$
13 years ago
