167,618 Shares in Exzeo Group, Inc. $XZO Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies acquired 167,618 Exzeo Group shares worth approximately $2.46 million, while several other institutional investors also initiated or expanded positions.
• Exzeo exceeded quarterly earnings expectations, reporting $0.26 in EPS versus the $0.24 consensus and $56.29 million in revenue, up 3% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $26 price target; the company also authorized a $12 million share buyback, covering up to 1% of outstanding shares.

Renaissance Technologies LLC bought a new position in shares of Exzeo Group, Inc. (NYSE:XZO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 167,618 shares of the company's stock, valued at approximately $2,459,000. Renaissance Technologies LLC owned 0.18% of Exzeo Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Wyoming bought a new position in shares of Exzeo Group in the 1st quarter worth $334,000. Y Intercept Hong Kong Ltd bought a new stake in Exzeo Group during the first quarter valued at about $678,000. Zimmer Partners LP purchased a new position in Exzeo Group in the fourth quarter valued at about $1,819,000. Ophir Asset Management Pty Ltd purchased a new position in Exzeo Group in the fourth quarter valued at about $23,907,000. Finally, Millennium Management LLC bought a new position in Exzeo Group in the fourth quarter worth about $3,799,000.

Insider Transactions at Exzeo Group

In related news, CEO Paresh Patel acquired 2,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $13.26 per share, for a total transaction of $26,520.00. Following the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 8,000 shares of company stock valued at $106,120 over the last three months. Insiders own 4.00% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on XZO. Weiss Ratings reissued a "sell (d+)" rating on shares of Exzeo Group in a research report on Friday, July 24th. Wall Street Zen downgraded shares of Exzeo Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Zacks Research lowered shares of Exzeo Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.00.

Exzeo Group Stock Performance

NYSE XZO opened at $15.78 on Tuesday. The firm has a market capitalization of $1.43 billion and a P/E ratio of 16.10. The stock has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $15.72. Exzeo Group, Inc. has a fifty-two week low of $12.36 and a fifty-two week high of $24.60.

Exzeo Group (NYSE:XZO - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $56.29 million for the quarter. Exzeo Group had a return on equity of 42.87% and a net margin of 39.14%.The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, analysts forecast that Exzeo Group, Inc. will post 1.01 earnings per share for the current year.

Exzeo Group announced that its Board of Directors has initiated a share buyback program on Tuesday, May 26th that permits the company to buyback $12.00 million in outstanding 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 believes its stock is undervalued.

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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