Exzeo Group (NYSE:XZO) Upgraded at Zacks Research

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

XZO has been the subject of several other reports. Weiss Ratings cut Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 29th. Wall Street Zen lowered shares of Exzeo Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Exzeo Group Stock Performance

NYSE XZO opened at $16.83 on Monday. The stock has a market capitalization of $1.53 billion and a P/E ratio of 23.38. Exzeo Group has a 52 week low of $12.36 and a 52 week high of $24.60. The stock has a fifty day moving average of $14.40 and a 200-day moving average of $16.81.

Exzeo Group (NYSE:XZO) last issued 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 for the quarter, compared to analyst estimates of $55.90 million. Equities research analysts forecast that Exzeo Group will post 1.01 earnings per share for the current fiscal year.

Exzeo Group announced that its Board of Directors has approved 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 reacquire up to 1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Exzeo Group

In related news, CEO Paresh Patel purchased 2,000 shares of Exzeo Group stock in a transaction dated Wednesday, April 29th. The shares were acquired at an average cost of $16.22 per share, for a total transaction of $32,440.00. Following the transaction, the chief executive officer directly owned 1,636,013 shares of the company’s stock, valued at approximately $26,536,130.86. This trade represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 38,000 shares of company stock valued at $584,480. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Exzeo Group

Several hedge funds have recently added to or reduced their stakes in XZO. Jennison Associates LLC bought a new stake in shares of Exzeo Group in the 4th quarter valued at about $14,096,000. Legato Capital Management LLC acquired a new stake in Exzeo Group in the fourth quarter worth $1,475,000. Seven Grand Managers LLC acquired a new position in shares of Exzeo Group in the 4th quarter valued at $3,638,000. Goldman Sachs Group Inc. bought a new stake in shares of Exzeo Group in the 4th quarter valued at $12,551,000. Finally, Federated Hermes Inc. acquired a new stake in Exzeo Group during the 4th quarter worth $2,425,000.

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.