Public Employees Retirement System of Ohio Takes Position in XP Inc. $XP

Public Employees Retirement System of Ohio purchased a new position in shares of XP Inc. (NASDAQ:XP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 761,219 shares of the company’s stock, valued at approximately $12,377,000. Public Employees Retirement System of Ohio owned 0.14% of XP at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in XP by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock worth $227,000 after buying an additional 573 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 valued at $33,000 after buying an additional 646 shares during the last quarter. SummitTX Capital L.P. boosted its holdings in shares of XP by 2.8% during the fourth quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock valued at $507,000 after acquiring an additional 857 shares during the period. California State Teachers Retirement System grew its position 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 acquiring an additional 866 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of XP by 1.0% in the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock worth $1,697,000 after acquiring an additional 906 shares during the period. Institutional investors own 59.15% of the company’s stock.

XP Stock Performance

Shares of NASDAQ:XP opened at $17.66 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 0.51 and a beta of 1.10. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The company has a 50 day moving average price of $16.50 and a 200 day moving average price of $17.94.

XP (NASDAQ:XP) last released its quarterly earnings results 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 analyst estimates of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%.XP’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $2.46 EPS. On average, research analysts anticipate that XP Inc. will post 2.11 EPS for the current fiscal year.

XP declared that its board has authorized a stock repurchase program on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

XP has been the subject of a number of analyst reports. Weiss Ratings lowered shares of XP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th. UBS Group reduced their price objective on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, XP presently has an average rating of “Moderate Buy” and an average price target of $23.33.

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.