Royal Bank of Canada trimmed its holdings in XP Inc. (NASDAQ:XP - Free Report) by 96.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,220 shares of the company's stock after selling 452,328 shares during the quarter. Royal Bank of Canada's holdings in XP were worth $328,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company's stock valued at $33,000 after purchasing an additional 646 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in XP by 1,783.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company's stock worth $53,000 after buying an additional 2,675 shares in the last quarter. Parallel Advisors LLC lifted its position in XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company's stock worth $63,000 after buying an additional 1,775 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in XP during the fourth quarter worth $55,000. Finally, Vestcor Inc acquired a new position in XP during the third quarter worth $64,000. 59.15% of the stock is owned by hedge funds and other institutional investors.
XP Stock Down 0.7%
NASDAQ:XP opened at $17.68 on Friday. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average is $16.45 and its two-hundred day moving average is $17.96. XP Inc. has a 52 week low of $14.80 and a 52 week high of $23.13. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 0.51 and a beta of 1.10.
XP (NASDAQ:XP - Get Free Report) last issued its quarterly earnings data on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $943.55 million during the quarter, compared to analysts' expectations of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%.The company's revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. Research analysts anticipate that XP Inc. will post 2.11 EPS for the current year.
XP announced that its Board of Directors has initiated a share buyback program on Tuesday, May 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have issued reports on XP shares. Weiss Ratings downgraded XP from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 18th. UBS Group lowered their price target on shares of XP from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, June 3rd. Finally, Zacks Research cut shares of XP from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, XP has a consensus rating of "Moderate Buy" and an average target price of $23.33.
Get Our Latest Analysis on XP
XP Profile
(
Free Report)
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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