Zacks Research Upgrades Exzeo Group (NYSE:XZO) to “Strong-Buy”

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

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings cut shares of 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 report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.00.

Exzeo Group Stock Performance

Exzeo Group stock opened at $16.83 on Monday. The stock has a market capitalization of $1.53 billion and a price-to-earnings ratio of 23.38. 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 $14.40 and its two-hundred day moving average price is $16.81.

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 of Directors has approved a share buyback plan on Tuesday, May 26th that permits the company to repurchase $12.00 million in shares. This repurchase authorization permits the company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Exzeo Group

In other 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, with a total value of $26,520.00. Following the completion of the transaction, the chief executive officer directly owned 1,672,013 shares of the company’s stock, valued at $22,170,892.38. This trade represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 38,000 shares of company stock worth $584,480 in the last ninety days. Insiders own 4.00% of the company’s stock.

Institutional Trading of Exzeo Group

Hedge funds have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in Exzeo Group during the fourth quarter worth $14,096,000. Legato Capital Management LLC acquired a new position in shares of Exzeo Group during the fourth quarter valued at about $1,475,000. Seven Grand Managers LLC acquired a new position in shares of Exzeo Group during the fourth quarter valued at about $3,638,000. Alden Global Capital LLC bought a new stake in shares of Exzeo Group during the fourth quarter worth about $2,971,000. Finally, Atom Investors LP bought a new stake in shares of Exzeo Group during the fourth quarter worth about $3,888,000.

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.