California Public Employees Retirement System Cuts Stock Position in XP Inc. $XP

California Public Employees Retirement System cut its holdings in shares of XP Inc. (NASDAQ:XP) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 744,222 shares of the company’s stock after selling 39,739 shares during the period. California Public Employees Retirement System’s holdings in XP were worth $14,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in XP. EverSource Wealth Advisors LLC boosted its stake in XP by 65.4% in the 2nd 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. FNY Investment Advisers LLC acquired a new position in shares of XP in the 4th quarter valued at $34,000. Caitong International Asset Management Co. Ltd lifted its position in XP by 1,783.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after acquiring an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in XP during the 4th quarter valued at about $55,000. Finally, Vestcor Inc purchased a new stake in shares of XP in the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Stock Down 0.8%

Shares of NASDAQ:XP opened at $16.69 on Friday. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.60 and a beta of 1.10. XP Inc. has a 12-month low of $14.80 and a 12-month high of $23.13. The business has a 50-day moving average price of $16.30 and a 200 day moving average price of $18.29. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were paid a dividend of $0.20 per share. This represents a yield of 268.0%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio is currently 22.10%.

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

Analyst Ratings Changes

XP has been the subject of several recent research reports. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. UBS Group dropped their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, XP currently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

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.