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

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

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Exzeo Group in a report on Friday, July 24th. Wall Street Zen lowered shares of Exzeo Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three equities research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.00.

Exzeo Group Stock Performance

Exzeo Group stock opened at $16.49 on Tuesday. The stock has a market capitalization of $1.50 billion and a price-to-earnings ratio of 22.90. Exzeo Group has a 52-week low of $12.36 and a 52-week high of $24.60. The stock’s 50 day moving average price is $15.06 and its two-hundred day moving average price is $16.07.

Exzeo Group (NYSE:XZO) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $54.01 million during the quarter, compared to the consensus estimate of $55.90 million. On average, equities research analysts forecast that Exzeo Group will post 1.01 EPS for the current year.

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

Insider Buying and Selling at Exzeo Group

In other news, CEO Paresh Patel bought 2,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 16,000 shares of company stock worth $231,600 over the last quarter. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ionic Capital Management LLC bought a new position in shares of Exzeo Group in the fourth quarter valued at $328,000. State of Wyoming bought a new stake in shares of Exzeo Group during the first quarter worth about $334,000. Verition Fund Management LLC acquired a new stake in shares of Exzeo Group in the 4th quarter worth about $532,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Exzeo Group in the 1st quarter worth about $678,000. Finally, HRT Financial LP bought a new position in Exzeo Group in the 4th quarter valued at 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.