Jennison Associates LLC Reduces Position in XP Inc. $XP

Key Points

• Jennison Associates cut its stake in XP Inc. by 36.9% in Q4, selling 1,015,902 shares and retaining 1,738,889 shares worth about $28.47 million (0.32% of the company).
• Other institutions were active as well—AQR boosted its holding by 692.8%, CalPERS added 48,765 shares and Jump Financial opened a new ~$857k position—leaving roughly 59.15% of XP owned by hedge funds and institutional investors.
• XP shows solid fundamentals and analyst support: market cap ≈ $10.24B, P/E 11.02, a quarterly EPS beat ($0.46 vs. $0.45) with revenue up 10.3% YoY, and a consensus rating of Moderate Buy (average target ≈ $22.86; UBS raised its target to $28).

Jennison Associates LLC trimmed its holdings in shares of XP Inc. (NASDAQ:XP - Free Report) by 36.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,738,889 shares of the company's stock after selling 1,015,902 shares during the quarter. Jennison Associates LLC owned 0.32% of XP worth $28,466,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of XP. AQR Capital Management LLC increased its position in shares of XP by 692.8% during the first quarter. AQR Capital Management LLC now owns 217,557 shares of the company's stock worth $2,991,000 after acquiring an additional 190,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of XP by 174.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company's stock worth $100,000 after acquiring an additional 4,400 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company's stock worth $33,000 after acquiring an additional 646 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of XP during the second quarter worth about $857,000. Finally, California Public Employees Retirement System increased its position in shares of XP by 7.2% during the second quarter. California Public Employees Retirement System now owns 723,423 shares of the company's stock worth $14,613,000 after acquiring an additional 48,765 shares during the last quarter. 59.15% of the stock is owned by hedge funds and other institutional investors.

XP Stock Down 0.5%

Shares of XP stock opened at $19.06 on Friday. The company has a quick ratio of 6.12, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.24 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.61 and a beta of 1.17. XP Inc. has a fifty-two week low of $15.51 and a fifty-two week high of $23.13. The business has a 50-day moving average price of $19.81 and a 200 day moving average price of $18.72.

XP (NASDAQ:XP - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The firm had revenue of $806.08 million during the quarter. XP had a return on equity of 23.08% and a net margin of 27.51%.The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. On average, sell-side analysts forecast that XP Inc. will post 2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

XP has been the topic of a number of analyst reports. UBS Group lifted their target price on XP from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Zacks Research raised XP from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group initiated coverage on XP in a research report on Monday, January 19th. They set a "buy" rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, XP presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.86.

XP Profile

XP Inc provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients.

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