Exzeo Group (NYSE:XZO) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Exzeo Group (NYSE:XZO) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on XZO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Exzeo Group in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Exzeo Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.00.

Exzeo Group Stock Up 0.3%

NYSE:XZO opened at $16.49 on Tuesday. The stock has a market cap of $1.50 billion and a P/E ratio of 22.90. The firm’s fifty day simple moving average is $15.06 and its 200 day simple moving average is $16.07. Exzeo Group has a twelve month low of $12.36 and a twelve month high of $24.60.

Exzeo Group (NYSE:XZO) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.22 earnings per share (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 analysts’ expectations of $55.90 million. On average, analysts expect that Exzeo Group will post 1.01 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, CEO Paresh Patel purchased 2,000 shares of Exzeo Group stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $13.26 per share, with a total value of $26,520.00. Following the completion of the purchase, the chief executive officer directly owned 1,672,013 shares in the company, valued at approximately $22,170,892.38. This trade represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 16,000 shares of company stock valued at $231,600 over the last 90 days. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of Exzeo Group

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Exzeo Group by 17.4% in the 1st quarter. Bank of America Corp DE now owns 58,695 shares of the company’s stock worth $861,000 after buying an additional 8,695 shares during the period. Ionic Capital Management LLC purchased a new position in Exzeo Group during the 4th quarter valued at about $328,000. Verition Fund Management LLC purchased a new position in Exzeo Group during the 4th quarter valued at about $532,000. State of Wyoming bought a new stake in Exzeo Group during the first quarter worth about $334,000. Finally, HRT Financial LP bought a new stake in Exzeo Group during the fourth quarter worth about $754,000.

Exzeo Group Company Profile

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.