National Pension Service Has $3.38 Million Stake in XP Inc. $XP

Key Points

• National Pension Service nearly doubled its XP stake in the second quarter, adding 100,677 shares to hold 207,699 shares valued at approximately $3.38 million. Institutional investors collectively own 59.15% of XP.
• XP reported quarterly EPS of $0.53, beating estimates of $0.50, while revenue rose 8.3% year over year to $943.55 million. The company posted a 27.20% net margin and 22.19% return on equity.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $23, compared with XP’s opening price of $19.86. Recent target changes included Itau BBA upgrading the stock to “outperform” and UBS lowering its target to $25.

National Pension Service lifted its position in shares of XP Inc. (NASDAQ:XP - Free Report) by 94.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,699 shares of the company's stock after buying an additional 100,677 shares during the quarter. National Pension Service's holdings in XP were worth $3,377,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in XP during the first quarter worth $3,071,000. Lazard Asset Management LLC boosted its position in shares of XP by 244.9% during the 1st quarter. Lazard Asset Management LLC now owns 206,689 shares of the company's stock worth $3,935,000 after purchasing an additional 146,763 shares in the last quarter. Verde Servicos Internacionais S.A. acquired a new stake in shares of XP in the 1st quarter valued at about $3,216,000. Hsbc Holdings PLC increased its position in XP by 876.6% in the 1st quarter. Hsbc Holdings PLC now owns 1,062,720 shares of the company's stock valued at $20,179,000 after buying an additional 953,902 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in XP by 44.9% during the 1st quarter. Quantinno Capital Management LP now owns 209,252 shares of the company's stock worth $3,984,000 after buying an additional 64,829 shares during the period. 59.15% of the stock is owned by institutional investors.

XP Stock Performance

Shares of XP stock opened at $19.86 on Monday. The business's fifty day simple moving average is $17.21 and its 200 day simple moving average is $17.87. The firm has a market capitalization of $10.67 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07.

XP (NASDAQ:XP - Get Free Report) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%.The firm had revenue of $943.55 million during the quarter, compared to the consensus estimate of $935.15 million. During the same quarter in the prior year, the company earned $2.46 EPS. The business's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that XP Inc. will post 2.07 EPS for the current year.

XP declared that its board has authorized a stock repurchase program on Tuesday, May 19th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

XP has been the subject of a number of research reports. Weiss Ratings raised XP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 2nd. Itau BBA Securities raised shares of XP from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, August 31st. Finally, UBS Group decreased their price target on shares of XP from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

About XP

XP Inc NASDAQ: XP is a Brazilian financial services company that operates an investment platform serving individual investors, financial advisors, corporations and institutional clients. Through its platform and affiliated brands, the company provides access to a broad range of financial products and investment solutions.

Its services include brokerage and custody, investment advisory, portfolio management, banking and credit products, insurance, retirement solutions and financial education.

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