Exzeo Group (NYSE:XZO) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Exzeo Group (NYSE:XZO) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings cut Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Exzeo Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Exzeo Group Stock Performance

XZO opened at $16.83 on Monday. The company has a market cap of $1.53 billion and a PE ratio of 23.38. The stock has a 50-day moving average of $14.40 and a 200-day moving average of $16.81. Exzeo Group has a 52-week low of $12.36 and a 52-week high of $24.60.

Exzeo Group (NYSE:XZO) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $54.01 million for the quarter, compared to analyst estimates of $55.90 million. On average, research analysts predict that Exzeo Group will post 1.01 earnings per share for the current year.

Exzeo Group announced that its board has initiated a share buyback plan on Tuesday, May 26th that permits the company to buyback $12.00 million in shares. This buyback authorization permits the company to purchase up to 1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Exzeo Group news, CEO Paresh Patel acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $13.26 per share, for a total transaction of $26,520.00. Following the completion of the purchase, the chief executive officer owned 1,672,013 shares of the company’s stock, valued at approximately $22,170,892.38. This trade represents a 0.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 38,000 shares of company stock valued at $584,480 over the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Exzeo Group

Several institutional investors have recently modified their holdings of XZO. Jennison Associates LLC acquired a new position in Exzeo Group in the fourth quarter valued at approximately $14,096,000. Legato Capital Management LLC acquired a new stake in Exzeo Group during the 4th quarter worth $1,475,000. Seven Grand Managers LLC bought a new stake in shares of Exzeo Group during the 4th quarter valued at $3,638,000. Alden Global Capital LLC bought a new stake in shares of Exzeo Group during the 4th quarter valued at $2,971,000. Finally, Atom Investors LP acquired a new position in shares of Exzeo Group in the 4th quarter valued at $3,888,000.

About Exzeo Group

Exzeo provides turnkey insurance technology and operations solutions to insurance carriers and their agents based on a proprietary platform of purpose-built software and data analytics applications that are specifically designed for the property and casualty, or P&C, insurance ecosystem. Exzeo’s Insurance-as-a-Service (IaaS) platform, which we refer to as the “Exzeo Platform,” currently includes nine highly configurable software and data analytics applications that are purpose-built to serve insurance companies and other customers in the insurance value chain.