Swiss National Bank Has $14.76 Million Holdings in XP Inc. $XP

Swiss National Bank lessened its holdings in shares of XP Inc. (NASDAQ:XP) by 12.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 775,264 shares of the company’s stock after selling 105,300 shares during the quarter. Swiss National Bank’s holdings in XP were worth $14,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in XP by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock valued at $227,000 after acquiring an additional 573 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after purchasing an additional 646 shares during the period. SummitTX Capital L.P. lifted its holdings in shares of XP by 2.8% during the 4th quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock valued at $507,000 after purchasing an additional 857 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of XP by 1.6% during the 3rd quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock valued at $1,017,000 after purchasing an additional 866 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of XP by 1.0% in the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock valued at $1,697,000 after purchasing an additional 906 shares during the period. 59.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group lowered their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Three 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

XP Stock Performance

Shares of XP stock opened at $16.69 on Friday. 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 $8.97 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10. The stock’s 50-day moving average is $16.30 and its 200-day moving average is $18.29. XP Inc. has a one year low of $14.80 and a one year high of $23.13.

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 given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a yield of 268.0%. This is a boost from XP’s previous annual dividend of $0.18. XP’s payout ratio is 22.10%.

XP declared that its Board of Directors 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 purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

XP 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.