Exzeo Group (NYSE:XZO) Trading 8.2% Higher – What’s Next?

Exzeo Group, Inc. (NYSE:XZO) shares rose 8.2% on Friday . The stock traded as high as $15.92 and last traded at $15.92. Approximately 81,378 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 200,969 shares. The stock had previously closed at $14.71.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Exzeo Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.00.

Exzeo Group Price Performance

The firm has a market cap of $1.44 billion and a price-to-earnings ratio of 22.04. The firm has a 50 day moving average price of $14.41 and a 200-day moving average price of $16.82.

Exzeo Group (NYSE:XZO) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.22 earnings per share (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 the consensus estimate of $55.90 million. On average, sell-side analysts expect that Exzeo Group, Inc. will post 1.01 EPS for the current fiscal year.

Exzeo Group declared that its board has initiated a share repurchase plan on Tuesday, May 26th that allows the company to buyback $12.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Exzeo Group news, CEO Paresh Patel purchased 2,000 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $16.88 per share, for a total transaction of $33,760.00. Following the transaction, the chief executive officer directly owned 1,632,013 shares in the company, valued at $27,548,379.44. This represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 40,000 shares of company stock valued at $614,360. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exzeo Group

Large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake 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 valued at $861,000 after acquiring an additional 8,695 shares during the last quarter. Ionic Capital Management LLC bought a new stake in shares of Exzeo Group during the 4th quarter valued at $328,000. Verition Fund Management LLC bought a new stake in shares of Exzeo Group during the 4th quarter valued at $532,000. State of Wyoming acquired a new position in shares of Exzeo Group in the 1st quarter valued at $334,000. Finally, HRT Financial LP acquired a new position in shares of Exzeo Group in the 4th quarter valued at $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.