Exzeo Group (NYSE:XZO) Shares Gap Up - Here's Why

Key Points

• Exzeo Group shares opened higher, rising from a prior close of $15.83 to $16.69 and last trading at $16.85.
• Analyst sentiment improved after Zacks Research and Weiss Ratings upgraded the stock to “Hold.” The shares have a “Moderate Buy” consensus rating and a $26.00 average price target.
• Exzeo reported quarterly EPS of $0.26, beating estimates by $0.02, while revenue rose 3% year over year to $56.29 million. Several institutional investors also increased or initiated positions in the company.

Exzeo Group, Inc. (NYSE:XZO - Get Free Report)'s share price gapped up before the market opened on Friday. The stock had previously closed at $15.83, but opened at $16.69. Exzeo Group shares last traded at $16.85, with a volume of 2,533 shares.

Analyst Ratings Changes

Several research firms recently weighed in on XZO. Zacks Research upgraded shares of Exzeo Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of Exzeo Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Exzeo Group has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

Exzeo Group Stock Performance

The business's 50 day moving average price is $15.99 and its two-hundred day moving average price is $15.47. The company has a market capitalization of $1.49 billion and a price-to-earnings ratio of 16.79.

Exzeo Group (NYSE:XZO - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $56.29 million during the quarter. Exzeo Group had a return on equity of 38.77% and a net margin of 39.14%. Exzeo Group's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. On average, sell-side analysts expect that Exzeo Group, Inc. will post 0.98 earnings per share for the current year.

Institutional Trading of Exzeo Group

Several hedge funds and other institutional investors have recently modified their holdings of XZO. Renaissance Technologies LLC bought a new position in Exzeo Group in the 1st quarter valued at about $2,459,000. Whetstone Capital Advisors LLC raised its holdings in Exzeo Group by 31.6% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 541,544 shares of the company's stock valued at $9,136,000 after buying an additional 130,191 shares during the last quarter. Janus Henderson Group PLC raised its position in Exzeo Group by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 703,304 shares of the company's stock worth $10,317,000 after purchasing an additional 85,126 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Exzeo Group during the first quarter worth about $678,000. Finally, Alden Global Capital LLC acquired a new position in shares of Exzeo Group in the 4th quarter worth approximately $2,971,000.

Exzeo Group Company Profile

Exzeo Group, Inc is an insurance company focused on providing property and casualty insurance products in markets that are exposed to severe weather and other catastrophe risks. The company uses technology and data-driven underwriting processes to support the development, distribution and administration of insurance coverage.

Its business is centered on personal and commercial property insurance offerings, including coverage designed for homeowners and other property owners. Exzeo distributes its products through insurance agents and other industry partners, with an emphasis on serving customers in regions where traditional insurers may have limited capacity.

The company is headquartered in the United States and operates through its insurance and related service subsidiaries.

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