Exzeo Group (NYSE:XZO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Exzeo Group (NYSE:XZO) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other analysts also recently issued reports on XZO. Wall Street Zen downgraded shares of Exzeo Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Exzeo Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Exzeo Group Trading Down 0.5%

Shares of Exzeo Group stock opened at $16.57 on Wednesday. Exzeo Group has a twelve month low of $12.36 and a twelve month high of $24.60. The stock has a market cap of $1.49 billion and a price-to-earnings ratio of 16.91. The company has a fifty day moving average price of $16.21 and a 200 day moving average price of $15.37.

Exzeo Group (NYSE:XZO) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.26 EPS for the quarter, beating 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 company had revenue of $56.29 million for the quarter. During the same period last year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts forecast that Exzeo Group will post 0.98 earnings per share for the current year.

Exzeo Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 26th that authorizes the company to repurchase $12.00 million in shares. This repurchase authorization authorizes the company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Exzeo Group

A number of institutional investors have recently modified their holdings of XZO. California State Teachers Retirement System lifted its position in shares of Exzeo Group by 320.8% during the second quarter. California State Teachers Retirement System now owns 1,822 shares of the company’s stock worth $31,000 after purchasing an additional 1,389 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Exzeo Group during the second quarter valued at approximately $287,000. Ionic Capital Management LLC acquired a new stake in Exzeo Group during the fourth quarter valued at approximately $328,000. State of Wyoming bought a new position in Exzeo Group during the 1st quarter worth approximately $334,000. Finally, Verition Fund Management LLC bought a new position in Exzeo Group during the 4th quarter worth approximately $532,000.

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.