National Pension Service Boosts Position in XP Inc. $XP

National Pension Service grew its stake in shares of XP Inc. (NASDAQ:XP) by 94.1% during the 2nd quarter, according to the company in its most recent disclosure 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 period. National Pension Service’s holdings in XP were worth $3,377,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of XP. Orbis Allan Gray Ltd bought a new stake in shares of XP during the 2nd quarter valued at about $161,639,000. Norges Bank bought a new stake in XP during the fourth quarter valued at approximately $80,196,000. AQR Capital Management LLC lifted its position in XP by 1,433.5% during the second quarter. AQR Capital Management LLC now owns 3,336,183 shares of the company’s stock valued at $67,391,000 after purchasing an additional 3,118,626 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in XP in the 4th quarter worth approximately $39,145,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in shares of XP by 109.7% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 4,195,379 shares of the company’s stock worth $68,678,000 after buying an additional 2,195,087 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors.

XP Price Performance

XP opened at $19.86 on Monday. The stock’s 50 day simple moving average is $17.21 and its 200 day simple moving average is $17.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.54 and a beta of 1.08.

XP (NASDAQ:XP) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 previous year, the company posted $2.46 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, analysts predict that XP Inc. will post 2.07 earnings per share for the current year.

XP declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 19th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on XP shares. UBS Group lowered their price objective 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. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Finally, Itau BBA Securities upgraded XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock 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.