XP Inc. $XP Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of XP Inc. (NASDAQ:XP) by 88.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 43,139 shares of the company’s stock after selling 316,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in XP were worth $701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of XP by 692.8% in the 1st quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock valued at $2,991,000 after purchasing an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in XP by 174.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock worth $100,000 after purchasing an additional 4,400 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after purchasing an additional 646 shares in the last quarter. Jump Financial LLC bought a new stake in XP in the second quarter valued at about $857,000. Finally, California Public Employees Retirement System increased its holdings in XP by 7.2% in the second quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock valued at $14,613,000 after buying an additional 48,765 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.

XP Trading Down 3.3%

NASDAQ XP opened at $15.99 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.66 and a current ratio of 4.80. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The company has a 50-day simple moving average of $16.27 and a 200-day simple moving average of $18.03. The firm has a market capitalization of $8.59 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10.

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

XP announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 19th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on XP shares. UBS Group cut their price objective on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings downgraded XP from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Zacks Research lowered 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, XP presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

XP 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.