Berenberg Bank Initiates Coverage of XPS Pensions Group (LSE:XPS) with Buy Recommendation

Fintel reports that on September 9, 2025, Berenberg Bank initiated coverage of XPS Pensions Group (LSE:XPS) with a Buy recommendation.
Analyst Price Forecast Suggests 32.67% Upside
As of September 3, 2025, the average one-year price target for XPS Pensions Group is 464.99 GBX/share. The forecasts range from a low of 414.10 GBX to a high of 509.25 GBX. The average price target represents an increase of 32.67% from its latest reported closing price of 350.50 GBX / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for XPS Pensions Group is 206MM, a decrease of 11.26%. The projected annual non-GAAP EPS is 0.17.
XPS Pensions Group Maintains 2.51% Dividend Yield
At the most recent price, the company’s dividend yield is 2.51%.
Additionally, the company’s dividend payout ratio is 0.58. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.21% , demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 40 funds or institutions reporting positions in XPS Pensions Group. This is an increase of 3 owner(s) or 8.11% in the last quarter. Average portfolio weight of all funds dedicated to XPS is 0.13%, an increase of 64.04%. Total shares owned by institutions increased in the last three months by 8.04% to 4,301K shares.
What are Other Shareholders Doing?

IEFA - iShares Core MSCI EAFE ETF holds 617K shares representing 0.30% ownership of the company. In its prior filing, the firm reported owning 285K shares , representing an increase of 53.84%. The firm increased its portfolio allocation in XPS by 140.07% over the last quarter.
SCZ - iShares MSCI EAFE Small-Cap ETF holds 613K shares representing 0.30% ownership of the company. In its prior filing, the firm reported owning 595K shares , representing an increase of 2.85%. The firm increased its portfolio allocation in XPS by 12.09% over the last quarter.
IRCYX - International Small Cap Portfolio Advisor Class holds 487K shares representing 0.24% ownership of the company. No change in the last quarter.
OWSMX - Old Westbury Small & Mid Cap Strategies Fund holds 340K shares representing 0.17% ownership of the company. No change in the last quarter.
DFIS - Dimensional International Small Cap ETF holds 268K shares representing 0.13% ownership of the company. In its prior filing, the firm reported owning 222K shares , representing an increase of 17.34%. The firm increased its portfolio allocation in XPS by 32.01% over the last quarter.