Wealth High Governance Capital Ltda Buys New Stake in XP Inc. $XP

Wealth High Governance Capital Ltda bought a new stake in XP Inc. (NASDAQ:XP) during the fourth quarter, Holdings Channel reports. The firm bought 610,262 shares of the company’s stock, valued at approximately $9,990,000. XP makes up about 1.9% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of XP. Summit Global Investments raised its stake in shares of XP by 5.8% during the third quarter. Summit Global Investments now owns 11,624 shares of the company’s stock worth $218,000 after buying an additional 636 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after buying an additional 646 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of XP by 1.6% during the third quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock worth $1,017,000 after buying an additional 866 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of XP by 8.8% during the third quarter. PNC Financial Services Group Inc. now owns 13,282 shares of the company’s stock worth $250,000 after buying an additional 1,070 shares during the last quarter. Finally, Aberdeen Group plc raised its stake in shares of XP by 4.7% during the third quarter. Aberdeen Group plc now owns 25,202 shares of the company’s stock worth $474,000 after buying an additional 1,120 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Down 4.6%

Shares of NASDAQ:XP opened at $18.38 on Thursday. XP Inc. has a 52 week low of $15.51 and a 52 week high of $23.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.12 and a current ratio of 5.36. The company has a market capitalization of $9.88 billion, a PE ratio of 10.62, a PEG ratio of 0.63 and a beta of 1.26. The company has a 50 day moving average price of $19.85 and a two-hundred day moving average price of $18.71.

XP (NASDAQ:XP) last issued its earnings results on Friday, February 13th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. XP had a net margin of 27.51% and a return on equity of 23.08%. The firm had revenue of $806.08 million during the quarter. During the same period in the previous year, the company posted $2.23 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts forecast that XP Inc. will post 2.06 earnings per share for the current year.

Analyst Ratings Changes

XP has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of XP in a research note on Monday, January 19th. They set a “buy” rating and a $22.00 price target for the company. UBS Group boosted their target price on XP from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. 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 equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, XP presently has a consensus rating of “Moderate Buy” and an average target price of $22.86.

About XP

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.