Exzeo Group, Inc. (NYSE:XZO – Get Free Report) shares rose 5.2% during trading on Friday . The company traded as high as $13.19 and last traded at $13.20. Approximately 55,043 shares traded hands during trading, a decline of 73% from the average daily volume of 200,443 shares. The stock had previously closed at $12.55.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded Exzeo Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.00.
Read Our Latest Analysis on Exzeo Group
Exzeo Group Trading Up 4.2%
Exzeo Group (NYSE:XZO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that Exzeo Group, Inc. will post 1.01 EPS for the current fiscal year.
Exzeo Group announced that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that authorizes the company to buyback $12.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling
In related news, CEO Paresh Patel bought 2,000 shares of Exzeo Group stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $13.26 per share, with a total value of $26,520.00. Following the purchase, the chief executive officer owned 1,672,013 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have acquired 46,000 shares of company stock valued at $706,300. Insiders own 4.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of XZO. Bank of America Corp DE raised its position in Exzeo Group by 17.4% in the 1st quarter. Bank of America Corp DE now owns 58,695 shares of the company’s stock valued at $861,000 after buying an additional 8,695 shares during the last quarter. Janus Henderson Group PLC boosted its position in Exzeo Group by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 703,304 shares of the company’s stock worth $10,317,000 after acquiring an additional 85,126 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Exzeo Group during the 1st quarter worth approximately $2,459,000. State of Wyoming bought a new position in shares of Exzeo Group during the 1st quarter worth approximately $334,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Exzeo Group during the 1st quarter worth approximately $678,000.
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.
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