XP Inc. $XP Shares Sold by Swedbank AB

Swedbank AB lessened its holdings in XP Inc. (NASDAQ:XP) by 25.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,300 shares of the company’s stock after selling 56,600 shares during the period. Swedbank AB’s holdings in XP were worth $3,147,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of XP. AQR Capital Management LLC boosted its holdings in XP by 692.8% in the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in XP by 174.4% during the 1st 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 during the period. EverSource Wealth Advisors LLC raised its position in XP by 65.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after purchasing an additional 646 shares in the last quarter. Jump Financial LLC acquired a new stake in XP in the 2nd quarter valued at about $857,000. Finally, California Public Employees Retirement System boosted its stake in shares of XP by 7.2% in the 2nd 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 period. Institutional investors and hedge funds own 59.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group cut their target price on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, XP currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

XP Stock Performance

Shares of XP stock traded up $0.51 during mid-day trading on Friday, hitting $16.92. The stock had a trading volume of 3,919,659 shares, compared to its average volume of 5,882,532. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The firm has a market cap of $9.09 billion, a PE ratio of 9.35, a PEG ratio of 0.60 and a beta of 1.10. XP Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $23.13. The company’s 50-day simple moving average is $16.64 and its 200-day simple moving average is $18.26.

XP Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were paid a $0.20 dividend. This represents a dividend yield of 268.0%. This is a boost from XP’s previous annual dividend of $0.18. The ex-dividend date was Wednesday, June 10th. XP’s dividend payout ratio (DPR) is presently 22.10%.

XP announced that its Board of Directors has approved a stock buyback program on Tuesday, May 19th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

XP Company 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.