Exzeo Group (NYSE:XZO) Lowered to “Hold” Rating by Zacks Research

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

A number of other equities research analysts also recently issued reports on XZO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Exzeo Group in a research report on Friday, July 24th. Wall Street Zen downgraded 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 issued a Sell rating to the company. According to MarketBeat, Exzeo Group has a consensus rating of “Hold” and a consensus target price of $26.00.

Exzeo Group Price Performance

XZO opened at $16.49 on Tuesday. Exzeo Group has a 1 year low of $12.36 and a 1 year high of $24.60. The company has a market capitalization of $1.50 billion and a price-to-earnings ratio of 22.90. The firm’s fifty day moving average price is $15.06 and its two-hundred day moving average price is $16.07.

Exzeo Group (NYSE:XZO) last announced its earnings results on Wednesday, May 6th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $54.01 million during the quarter, compared to analysts’ expectations of $55.90 million. As a group, equities analysts anticipate that Exzeo Group will post 1.01 EPS for the current year.

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

Insider Activity at Exzeo Group

In other Exzeo Group news, CEO Paresh Patel bought 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $13.26 per share, for a total transaction of $26,520.00. Following the purchase, the chief executive officer directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 16,000 shares of company stock worth $231,600. Insiders own 4.00% of the company’s stock.

Institutional Trading of Exzeo Group

A number of large investors have recently added to or reduced their stakes in XZO. Bank of America Corp DE raised its position in Exzeo Group by 17.4% in the first quarter. Bank of America Corp DE now owns 58,695 shares of the company’s stock worth $861,000 after acquiring an additional 8,695 shares during the period. Janus Henderson Group PLC grew its position in shares of Exzeo Group by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 703,304 shares of the company’s stock valued at $10,317,000 after acquiring an additional 85,126 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Exzeo Group during the 1st quarter worth approximately $2,459,000. State of Wyoming purchased a new stake in shares of Exzeo Group during the 1st quarter worth approximately $334,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Exzeo Group in the 1st quarter worth approximately $678,000.

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.