Exzeo Group (NYSE:XZO) Stock Rating Lowered by Zacks Research

Exzeo Group (NYSE:XZO) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

XZO has been the subject of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Exzeo Group in a research report on Friday, July 24th. Wall Street Zen cut 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

Exzeo Group Trading Up 0.3%

NYSE:XZO opened at $16.49 on Tuesday. The stock has a market capitalization of $1.50 billion and a P/E ratio of 22.90. Exzeo Group has a 1 year low of $12.36 and a 1 year high of $24.60. The firm has a 50 day moving average of $15.06 and a 200-day moving average of $16.07.

Exzeo Group (NYSE:XZO) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $54.01 million for the quarter, compared to analyst estimates of $55.90 million. As a group, analysts forecast that Exzeo Group will post 1.01 EPS for the current fiscal year.

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

Insider Transactions at Exzeo Group

In other Exzeo Group news, CEO Paresh Patel bought 2,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $13.26 per share, with a total value of $26,520.00. Following the acquisition, the chief executive officer owned 1,672,013 shares of the company’s stock, valued at approximately $22,170,892.38. The trade was a 0.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 16,000 shares of company stock valued at $231,600 over the last quarter. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ophir Asset Management Pty Ltd acquired a new stake in shares of Exzeo Group during the fourth quarter worth $23,907,000. Janus Henderson Group PLC acquired a new position in Exzeo Group in the fourth quarter valued at about $14,991,000. Jennison Associates LLC bought a new position in Exzeo Group during the fourth quarter worth about $14,096,000. Goldman Sachs Group Inc. acquired a new position in shares of Exzeo Group during the 4th quarter worth about $12,551,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Exzeo Group in the 4th quarter valued at about $7,059,000.

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.