Public Employees Retirement System of Ohio Invests $12.38 Million in XP Inc. $XP

Public Employees Retirement System of Ohio bought a new position in shares of XP Inc. (NASDAQ:XP) during the second quarter, Holdings Channel.com reports. The fund bought 761,219 shares of the company’s stock, valued at approximately $12,377,000.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in XP by 65.4% in the 2nd 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 during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of XP by 1,783.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after purchasing an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of XP during the fourth quarter valued at about $55,000. Parallel Advisors LLC raised its position in shares of XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after buying an additional 1,775 shares during the last quarter. Finally, Vestcor Inc bought a new stake in shares of XP in the third quarter valued at about $64,000. 59.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on XP shares. UBS Group decreased their target price on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings downgraded XP from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

XP Stock Performance

Shares of XP stock opened at $17.66 on Monday. The firm has a market capitalization of $9.49 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.51 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. The company’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $17.94. XP Inc. has a 52-week low of $14.80 and a 52-week high of $23.13.

XP (NASDAQ:XP) last released its quarterly earnings data on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $943.55 million during the quarter, compared to the consensus estimate of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. On average, analysts expect that XP Inc. will post 2.11 EPS for the current year.

XP declared that its Board of Directors has approved a share repurchase program on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.