Key Points
- CEO Paresh Patel bought 2,000 shares of Exzeo Group on May 22 at an average price of $12.92 per share, spending $25,840. He now directly owns 1,668,013 shares, and the purchase was disclosed in an SEC filing.
- This was part of a steady buying streak by Patel, who has made multiple similar 2,000-share purchases throughout April and May at progressively higher prices. The pattern suggests continued insider confidence in the stock.
- Exzeo Group recently boosted shareholder returns by authorizing a $12 million share buyback, covering up to 1% of outstanding shares. The company also reported quarterly EPS of $0.22, topping estimates, while analysts currently rate the stock a consensus “Hold.”
Exzeo Group, Inc. (NYSE:XZO - Get Free Report) CEO Paresh Patel acquired 2,000 shares of Exzeo Group stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $25,840.00. Following the completion of the purchase, the chief executive officer directly owned 1,668,013 shares of the company's stock, valued at $21,550,727.96. This represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Paresh Patel also recently made the following trade(s):
- On Wednesday, May 20th, Paresh Patel acquired 2,000 shares of Exzeo Group stock. The stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired at an average cost of $16.21 per share, for a total transaction of $32,420.00.
- On Wednesday, April 22nd, Paresh Patel purchased 2,000 shares of Exzeo Group stock. The shares were purchased at an average cost of $16.46 per share, for a total transaction of $32,920.00.
Exzeo Group Stock Up 3.6%
Shares of XZO stock opened at $13.44 on Wednesday. The company's 50-day moving average price is $15.01. Exzeo Group, Inc. has a 12 month low of $12.50 and a 12 month high of $24.60. The firm has a market capitalization of $1.22 billion and a price-to-earnings ratio of 18.67.
Exzeo Group (NYSE:XZO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates 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, analysts forecast that Exzeo Group, Inc. will post 1.01 EPS for the current year.
Exzeo Group announced that its Board of Directors has approved a share buyback plan on Tuesday, May 26th that permits the company to buyback $12.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On Exzeo Group
A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Exzeo Group by 17.4% during the first quarter. Bank of America Corp DE now owns 58,695 shares of the company's stock worth $861,000 after acquiring an additional 8,695 shares during the last quarter. Ionic Capital Management LLC bought a new position in shares of Exzeo Group during the fourth quarter worth about $328,000. Verition Fund Management LLC bought a new position in shares of Exzeo Group during the fourth quarter worth about $532,000. State of Wyoming bought a new position in shares of Exzeo Group during the first quarter worth about $334,000. Finally, HRT Financial LP bought a new position in shares of Exzeo Group during the fourth quarter worth about $754,000.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on XZO. Wall Street Zen lowered Exzeo Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings lowered Exzeo Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $26.00.
Check Out Our Latest Stock Analysis on XZO
About Exzeo Group
(
Get Free Report)
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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