Jennison Associates LLC Invests $14.10 Million in Exzeo Group, Inc. $XZO

Key Points

• Jennison Associates LLC opened a new position in Exzeo by buying 581,262 shares valued at approximately $14.10 million, representing about 0.64% of the company.
• Exzeo beat expectations in its latest quarter with EPS of $0.25 vs. $0.13 expected and revenue of $53.32M vs. $41.5M, while the stock trades near $16.38 with a market cap of $1.49B and a P/E of 32.76.
• Insiders and analysts diverge: CEO Paresh Patel bought 2,000 shares (raising his stake to 1.62M) and insiders acquired 30,000 shares last quarter, but the consensus analyst rating remains a Hold with a $26 price target amid mixed upgrades and downgrades.

Jennison Associates LLC bought a new position in shares of Exzeo Group, Inc. (NYSE:XZO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 581,262 shares of the company's stock, valued at approximately $14,096,000. Jennison Associates LLC owned approximately 0.64% of Exzeo Group as of its most recent filing with the Securities & Exchange Commission.

Exzeo Group Stock Up 1.1%

XZO opened at $16.38 on Friday. Exzeo Group, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $24.60. The firm has a market capitalization of $1.49 billion and a P/E ratio of 32.76. The stock's fifty day moving average price is $15.57.

Exzeo Group (NYSE:XZO - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.12. The firm had revenue of $53.32 million for the quarter, compared to analyst estimates of $41.50 million. As a group, sell-side analysts expect that Exzeo Group, Inc. will post 0.89 EPS for the current year.

Insider Activity at Exzeo Group

In related news, CEO Paresh Patel purchased 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were bought at an average price of $17.48 per share, for a total transaction of $34,960.00. Following the completion of the transaction, the chief executive officer owned 1,620,013 shares of the company's stock, valued at approximately $28,317,827.24. This trade represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 30,000 shares of company stock valued at $474,700 in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Exzeo Group from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Weiss Ratings downgraded Exzeo Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.00.

Exzeo Group 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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