Share Buyback Plan Announced by Exzeo Group (NYSE:XZO) Board

Exzeo Group (NYSE:XZO) announced that its board has approved a share repurchase plan on Tuesday, May 26th, RTT News reports. The company plans to repurchase $12.00 million in shares. This repurchase authorization authorizes the company to buy up to 1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Exzeo Group Trading Up 3.6%

NYSE:XZO traded up $0.47 on Tuesday, reaching $13.44. The company’s stock had a trading volume of 354,392 shares, compared to its average volume of 232,836. Exzeo Group has a 1-year low of $12.50 and a 1-year high of $24.60. The stock has a market cap of $1.22 billion and a price-to-earnings ratio of 18.67. The stock’s 50-day moving average price is $15.01.

Exzeo Group (NYSE:XZO) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $54.01 million for the quarter, compared to analyst estimates of $55.90 million. As a group, equities research analysts forecast that Exzeo Group will post 1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded Exzeo Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three 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. According to data from MarketBeat, Exzeo Group presently has an average rating of “Hold” and an average target price of $26.00.

Insider Buying and Selling at Exzeo Group

In other news, CEO Paresh Patel acquired 2,000 shares of Exzeo Group stock in a transaction dated Monday, April 20th. The stock was bought at an average cost of $17.48 per share, with a total value of $34,960.00. Following the completion of the transaction, the chief executive officer directly owned 1,620,013 shares of the company’s stock, valued at approximately $28,317,827.24. This represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 44,000 shares of company stock worth $679,780 over the last ninety days. 4.00% of the stock is owned by corporate insiders.

About Exzeo Group

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.