XP (NASDAQ:XP – Get Free Report) had its target price reduced by stock analysts at UBS Group from $28.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 60.10% from the company’s previous close.
XP has been the subject of a number of other reports. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, XP presently has a consensus rating of “Moderate Buy” and an average target price of $22.80.
XP Stock Down 3.6%
XP declared that its board has authorized a share buyback plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Institutional Trading of XP
A number of institutional investors have recently modified their holdings of XP. Dodge & Cox lifted its stake in XP by 0.5% in the 3rd quarter. Dodge & Cox now owns 34,478,145 shares of the company’s stock worth $647,844,000 after purchasing an additional 169,700 shares in the last quarter. ARGA Investment Management LP increased its holdings in shares of XP by 4.0% in the 1st quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock worth $394,112,000 after buying an additional 799,048 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of XP by 74.4% in the 3rd quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company’s stock worth $230,895,000 after buying an additional 5,240,306 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of XP by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock worth $200,746,000 after buying an additional 1,300,982 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of XP by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock worth $193,152,000 after buying an additional 1,160,977 shares during the last quarter. 59.15% of the stock is currently owned by hedge funds and other institutional investors.
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.
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