XP Inc. $XP Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its stake in XP Inc. by 11.6% to 539,486 shares (about $8.83M), while other institutions including UBS, Vanguard and Ninety One also raised positions, leaving institutional ownership at roughly 59.15%.
• Analysts are broadly positive with a consensus rating of “Moderate Buy” and an average target of $22.86; UBS lifted its target to $28 and firms like Jefferies and Zacks have recent buy/strong-buy calls.
• XP reported a slight EPS beat ($0.46 vs. $0.45) and revenue of $806.1M (+10.3% YoY) with strong profitability (net margin ~27.5%, ROE ~23.1%); the stock trades near $19 with a PE of ~11 and a $10.24B market cap.

Pictet Asset Management Holding SA increased its stake in XP Inc. (NASDAQ:XP - Free Report) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 539,486 shares of the company's stock after purchasing an additional 56,090 shares during the period. Pictet Asset Management Holding SA owned 0.10% of XP worth $8,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UBS Group AG lifted its stake in XP by 102.9% during the 4th quarter. UBS Group AG now owns 1,441,237 shares of the company's stock valued at $23,593,000 after acquiring an additional 730,905 shares during the period. Vanguard Group Inc. lifted its stake in XP by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 3,784,717 shares of the company's stock valued at $61,956,000 after acquiring an additional 170,550 shares during the period. Ninety One UK Ltd lifted its stake in XP by 9.4% during the 4th quarter. Ninety One UK Ltd now owns 6,186,576 shares of the company's stock valued at $101,274,000 after acquiring an additional 533,952 shares during the period. Ninety One North America Inc. lifted its stake in XP by 15.8% during the 4th quarter. Ninety One North America Inc. now owns 1,435,950 shares of the company's stock valued at $23,507,000 after acquiring an additional 195,948 shares during the period. Finally, KBC Group NV increased its holdings in shares of XP by 37.4% during the 4th quarter. KBC Group NV now owns 171,436 shares of the company's stock valued at $2,806,000 after purchasing an additional 46,651 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on XP. UBS Group upped their target price on shares of XP from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Jefferies Financial Group assumed coverage on shares of XP in a report on Monday, January 19th. They set a "buy" rating and a $22.00 price objective on the stock. Finally, Zacks Research upgraded shares of XP from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.86.

XP Trading Down 0.5%

NASDAQ:XP opened at $19.06 on Friday. The company has a market capitalization of $10.24 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.17. The company has a quick ratio of 6.12, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. XP Inc. has a 52-week low of $15.51 and a 52-week high of $23.13. The stock has a fifty day simple moving average of $19.81 and a 200-day simple moving average of $18.73.

XP (NASDAQ:XP - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business 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 company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $2.23 EPS. On average, equities research analysts expect that XP Inc. will post 2.06 earnings per share for the current fiscal year.

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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