Exzeo Group (NYSE:XZO) Shares Gap Up – What’s Next?

Shares of Exzeo Group, Inc. (NYSE:XZO) gapped up before the market opened on Tuesday . The stock had previously closed at $15.17, but opened at $15.58. Exzeo Group shares last traded at $15.8380, with a volume of 4,473 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on XZO. 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 research note on Saturday, May 16th. Finally, Zacks Research cut shares of Exzeo Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Exzeo Group Price Performance

The company has a 50-day simple moving average of $15.66 and a 200-day simple moving average of $15.52. The firm has a market cap of $1.42 billion and a PE ratio of 16.08.

Exzeo Group (NYSE:XZO) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Exzeo Group had a return on equity of 38.77% and a net margin of 39.14%.The firm had revenue of $56.29 million for the quarter. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Exzeo Group, Inc. will post 0.98 earnings per share for the current year.

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

Insider Buying and Selling

In other Exzeo Group news, CEO Paresh Patel bought 2,000 shares of Exzeo Group stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $13.26 per share, for a total transaction of $26,520.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 6,000 shares of company stock valued at $79,020. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Exzeo Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 8,695 shares during the last quarter. Ionic Capital Management LLC bought a new stake in Exzeo Group during the 4th quarter valued at about $328,000. Bank of New York Mellon Corp bought a new stake in Exzeo Group during the 2nd quarter valued at about $287,000. Verition Fund Management LLC purchased a new stake in Exzeo Group in the 4th quarter valued at about $532,000. Finally, State of Wyoming purchased a new stake in Exzeo Group in the 1st quarter valued at about $334,000.

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.