Exzeo Group (NYSE:XZO) Shares Gap Up – Time to Buy?

Exzeo Group, Inc. (NYSE:XZO) gapped up prior to trading on Tuesday . The stock had previously closed at $15.17, but opened at $15.58. Exzeo Group shares last traded at $15.8380, with a volume of 4,473 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on XZO shares. Zacks Research lowered shares of Exzeo Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Exzeo Group in a research note on Friday, July 24th. Finally, Wall Street Zen lowered shares of Exzeo Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

Exzeo Group Stock Down 0.7%

The firm has a market cap of $1.44 billion and a P/E ratio of 16.36. The business has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $15.46.

Exzeo Group (NYSE:XZO) last announced its earnings results on Thursday, August 6th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $56.29 million for the quarter. Exzeo Group had a net margin of 39.14% and a return on equity of 38.77%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. On average, sell-side analysts anticipate that Exzeo Group, Inc. will post 0.98 EPS for the current fiscal year.

Exzeo Group announced that its board has approved a stock repurchase program on Tuesday, May 26th that allows the company to buyback $12.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Exzeo Group news, CEO Paresh Patel acquired 2,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $13.26 per share, for a total transaction of $26,520.00. Following the completion of the acquisition, the chief executive officer owned 1,672,013 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XZO. Bank of New York Mellon Corp bought a new stake in Exzeo Group in the second quarter worth $287,000. Ionic Capital Management LLC bought a new stake in Exzeo Group during the 4th quarter valued at about $328,000. State of Wyoming purchased a new position in Exzeo Group in the first quarter worth about $334,000. Verition Fund Management LLC bought a new position in shares of Exzeo Group in the fourth quarter worth approximately $532,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Exzeo Group during the first quarter valued at approximately $678,000.

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.