Paresh Patel Buys 2,000 Shares of Exzeo Group (NYSE:XZO) Stock

Key Points

• Exzeo Group CEO Paresh Patel bought 2,000 shares on May 26 at an average price of $13.26, spending $26,520 and increasing his direct stake to 1,670,013 shares. The filing shows a continued pattern of insider buying over multiple recent dates.
• The company’s board approved a $12 million stock buyback program, authorizing repurchases of up to 1% of shares outstanding. Buybacks are often viewed as a signal that management believes the stock may be undervalued.
• Exzeo shares rose 2.0% to $13.73, while the company reported Q1 EPS of $0.22, topping estimates but missing revenue expectations. Analysts currently have a consensus Hold rating with an average price target of $26.00.

Exzeo Group, Inc. (NYSE:XZO - Get Free Report) CEO Paresh Patel acquired 2,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $13.26 per share, for a total transaction of $26,520.00. Following the acquisition, the chief executive officer directly owned 1,670,013 shares in the company, valued at $22,144,372.38. This represents a 0.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Paresh Patel also recently made the following trade(s):

• On Friday, May 22nd, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $25,840.00.
• On Wednesday, May 20th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $13.33 per share, for a total transaction of $26,660.00.
• On Wednesday, May 13th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $13.55 per share, for a total transaction of $27,100.00.
• On Monday, May 11th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $13.99 per share, for a total transaction of $27,980.00.
• On Thursday, May 7th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $15.11 per share, for a total transaction of $30,220.00.
• On Tuesday, May 5th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $17.11 per share, for a total transaction of $34,220.00.
• On Friday, May 1st, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $16.53 per share, for a total transaction of $33,060.00.
• On Wednesday, April 29th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $16.22 per share, for a total transaction of $32,440.00.
• On Monday, April 27th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $16.88 per share, for a total transaction of $33,760.00.
• On Friday, April 24th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $16.21 per share, for a total transaction of $32,420.00.

Exzeo Group Stock Up 2.0%

Shares of NYSE:XZO traded up $0.26 during trading on Wednesday, hitting $13.73. 231,962 shares of the stock were exchanged, compared to its average volume of 197,604. The stock has a market capitalization of $1.25 billion and a P/E ratio of 19.07. Exzeo Group, Inc. has a 1-year low of $12.50 and a 1-year high of $24.60. The company has a fifty day moving average price of $15.01.

Exzeo Group (NYSE:XZO - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $54.01 million for the quarter, compared to the consensus estimate of $55.90 million. As a group, analysts forecast that Exzeo Group, Inc. will post 1.01 earnings per share for the current year.

Exzeo Group declared that its board has approved a stock buyback program on Tuesday, May 26th that authorizes the company to buyback $12.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Exzeo Group

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC bought a new position in Exzeo Group in the 4th quarter valued at $14,096,000. Legato Capital Management LLC bought a new position in Exzeo Group in the 4th quarter valued at $1,475,000. Verition Fund Management LLC bought a new position in Exzeo Group in the 4th quarter valued at $532,000. 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 purchasing an additional 8,695 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Exzeo Group in the 1st quarter valued at $2,459,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on XZO shares. Wall Street Zen downgraded Exzeo Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Exzeo Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Exzeo Group currently has a consensus rating of "Hold" and an average price target of $26.00.

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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