XP Inc. $XP Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in XP Inc. by 29.6% in the fourth quarter, buying 104,395 additional shares and bringing its total holdings to 457,119 shares worth about $7.4 million.
• Several other institutional investors also adjusted positions in XP, and overall 59.15% of the stock is owned by hedge funds and other institutions.
• Analyst sentiment remains mixed but constructive: XP has an average “Moderate Buy” rating with a consensus price target of $22.86, while recent ratings ranged from a Zacks downgrade to hold to UBS raising its target to $28.00.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of XP Inc. (NASDAQ:XP - Free Report) by 29.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 457,119 shares of the company's stock after purchasing an additional 104,395 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of XP worth $7,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of XP. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of XP by 17.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,368 shares of the company's stock valued at $350,000 after buying an additional 3,236 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in XP during the fourth quarter worth approximately $1,375,000. Wealth High Governance Capital Ltda acquired a new stake in XP during the fourth quarter worth approximately $9,990,000. Pekin Hardy Strauss Inc. purchased a new stake in XP in the 4th quarter worth approximately $237,000. Finally, ARGA Investment Management LP grew its stake in XP by 119.2% in the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company's stock worth $325,764,000 after acquiring an additional 10,820,050 shares during the period. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on XP shares. Zacks Research lowered XP from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. 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. Finally, UBS Group raised their price target on XP from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.86.

XP Price Performance

Shares of XP opened at $19.17 on Monday. XP Inc. has a fifty-two week low of $15.61 and a fifty-two week high of $23.13. The company's fifty day moving average is $19.61 and its two-hundred day moving average is $18.81. The firm has a market cap of $10.30 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.61 and a beta of 1.17. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

XP (NASDAQ:XP - Get Free Report) last released its quarterly earnings data on Friday, February 13th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. Analysts forecast that XP Inc. will post 2.06 earnings per share for the current year.

XP Company 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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