Exzeo Group (NYSE:XZO) Declares Stock Buyback Plan

Exzeo Group (NYSE:XZO) declared that its board has authorized a stock repurchase program on Tuesday, May 26th, RTT News reports. The company plans to buyback $12.00 million in shares. This buyback authorization permits the company to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Exzeo Group Price Performance

NYSE:XZO traded up $0.47 on Tuesday, hitting $13.44. The company’s stock had a trading volume of 354,392 shares, compared to its average volume of 232,836. The firm has a fifty day moving average of $15.01. The company has a market cap of $1.22 billion and a price-to-earnings ratio of 18.67. Exzeo Group has a one year low of $12.50 and a one year high of $24.60.

Exzeo Group (NYSE:XZO) last released its quarterly earnings data 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 business had revenue of $54.01 million during the quarter, compared to the consensus estimate of $55.90 million. On average, equities research analysts anticipate that Exzeo Group will post 1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XZO shares. Weiss Ratings cut Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered Exzeo Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.00.

Insider Transactions at Exzeo Group

In other Exzeo Group news, CEO Paresh Patel acquired 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $12.92 per share, for a total transaction of $25,840.00. Following the completion of the purchase, the chief executive officer directly owned 1,668,013 shares of the company’s stock, valued at approximately $21,550,727.96. This represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 44,000 shares of company stock valued at $679,780 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

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.