Exzeo Group (NYSE:XZO) Stock Price Down 6.4% – What’s Next?

Shares of Exzeo Group, Inc. (NYSE:XZO) traded down 6.4% during mid-day trading on Friday . The company traded as low as $15.51 and last traded at $15.2460. 34,365 shares changed hands during trading, a decline of 82% from the average daily volume of 195,938 shares. The stock had previously closed at $16.29.

Wall Street Analyst Weigh In

XZO has been the subject of several research reports. Wall Street Zen downgraded Exzeo Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Exzeo Group in a research note on Friday, July 24th. Finally, Zacks Research lowered Exzeo Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.00.

Exzeo Group Stock Down 3.1%

The firm has a 50 day moving average price of $15.38 and a 200 day moving average price of $15.81. The stock has a market capitalization of $1.44 billion and a PE ratio of 21.95.

Exzeo Group (NYSE:XZO) last announced its earnings results on Thursday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $56.29 million for the quarter. During the same quarter last year, the firm posted $0.26 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Exzeo Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Exzeo Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $12.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Exzeo Group

In other news, CEO Paresh Patel acquired 2,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $13.26 per share, with a total value of $26,520.00. Following the acquisition, the chief executive officer directly owned 1,672,013 shares of the company’s stock, valued at $22,170,892.38. The trade was a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 10,000 shares of company stock worth $134,100. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Exzeo Group in the 2nd quarter worth about $287,000. Ionic Capital Management LLC bought a new position in shares of Exzeo Group during the 4th quarter worth approximately $328,000. State of Wyoming purchased a new position in shares of Exzeo Group in the 1st quarter worth approximately $334,000. Verition Fund Management LLC bought a new position in shares of Exzeo Group in the fourth quarter valued at approximately $532,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Exzeo Group in the first quarter valued at approximately $678,000.

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.