Exzeo Group (NYSE:XZO) Shares Gap Down – Here’s Why

Exzeo Group, Inc. (NYSE:XZO) shares gapped down prior to trading on Thursday . The stock had previously closed at $17.27, but opened at $15.75. Exzeo Group shares last traded at $15.2950, with a volume of 47,986 shares changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on XZO. Weiss Ratings lowered Exzeo Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. Wall Street Zen raised Exzeo Group from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the 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 Stock Down 3.3%

The stock has a market capitalization of $1.23 billion and a P/E ratio of 26.96. The firm has a 50-day moving average of $15.61.

Exzeo Group (NYSE:XZO) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $55.53 million during the quarter, compared to the consensus estimate of $55.90 million. As a group, equities research analysts predict that Exzeo Group, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at Exzeo Group

In other news, CEO Paresh Patel purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average cost of $15.11 per share, for a total transaction of $30,220.00. Following the completion of the transaction, the chief executive officer directly owned 1,646,013 shares of the company’s stock, valued at $24,871,256.43. This trade represents a 0.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 36,000 shares of company stock worth $572,200 in the last 90 days.

Institutional Investors Weigh In On Exzeo Group

Several hedge funds have recently made changes to their positions in the company. Ophir Asset Management Pty Ltd bought a new stake in shares of Exzeo Group during the fourth quarter valued at approximately $23,907,000. Janus Henderson Group PLC bought a new stake in shares of Exzeo Group during the fourth quarter valued at approximately $14,991,000. Jennison Associates LLC bought a new stake in shares of Exzeo Group during the fourth quarter valued at approximately $14,096,000. Goldman Sachs Group Inc. bought a new stake in shares of Exzeo Group during the fourth quarter valued at approximately $12,551,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Exzeo Group during the fourth quarter valued at approximately $7,059,000.

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.