Zacks Research Downgrades Exzeo Group (NYSE:XZO) to Strong Sell

Key Points

• Zacks Research downgraded Exzeo Group from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with a $26 target price.
• Exzeo shares were trading at $16.57, down 0.5%, with a $1.49 billion market capitalization and a 52-week range of $12.36 to $24.60.
• The company exceeded quarterly EPS expectations, reporting $0.26 versus the $0.24 consensus, while revenue rose 3% year over year to $56.29 million; its board also authorized a $12 million share buyback.

Exzeo Group (NYSE:XZO - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. 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 Exzeo Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. 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's stock. 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 NYSE XZO opened at $16.57 on Wednesday. The firm has a market cap of $1.49 billion and a P/E ratio of 16.91. The business's 50 day moving average is $16.21 and its 200-day moving average is $15.37. Exzeo Group has a 1-year low of $12.36 and a 1-year high of $24.60.

Exzeo Group (NYSE:XZO - Get Free Report) last released its quarterly 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. Exzeo Group had a return on equity of 38.77% and a net margin of 39.14%.The business had revenue of $56.29 million during the quarter. During the same quarter last year, the firm earned $0.26 earnings per share. The business'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 EPS for the current year.

Exzeo Group announced that its board has authorized a stock buyback program on Tuesday, May 26th that permits the company to buyback $12.00 million in shares. This buyback authorization permits the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Exzeo Group

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Exzeo Group by 320.8% in the 2nd quarter. California State Teachers Retirement System now owns 1,822 shares of the company's stock valued at $31,000 after buying an additional 1,389 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Exzeo Group by 17.4% during the 1st quarter. Bank of America Corp DE now owns 58,695 shares of the company's stock worth $861,000 after acquiring an additional 8,695 shares in the last quarter. Ionic Capital Management LLC acquired a new stake in shares of Exzeo Group during the 4th quarter worth approximately $328,000. Bank of New York Mellon Corp bought a new position in Exzeo Group in the second quarter valued at approximately $287,000. Finally, Verition Fund Management LLC bought a new position in Exzeo Group in the fourth quarter valued at approximately $532,000.

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.

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