Squadra Investments Gestao DE Recursos LTDA. trimmed its position in XP Inc. (NASDAQ:XP – Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,909,501 shares of the company’s stock after selling 884,234 shares during the quarter. XP makes up 8.3% of Squadra Investments Gestao DE Recursos LTDA.’s portfolio, making the stock its 4th biggest position. Squadra Investments Gestao DE Recursos LTDA. owned 0.73% of XP worth $74,437,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in XP by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock valued at $227,000 after purchasing an additional 573 shares during the period. EverSource Wealth Advisors LLC grew its stake in XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after acquiring an additional 646 shares during the period. SummitTX Capital L.P. increased its stake in XP by 2.8% during the 4th quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock worth $507,000 after purchasing an additional 857 shares in the last quarter. California State Teachers Retirement System increased its position in shares of XP by 1.6% during the third quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock worth $1,017,000 after acquiring an additional 866 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in XP by 1.0% during the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock worth $1,697,000 after purchasing an additional 906 shares in the last quarter. 59.15% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on XP. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. UBS Group lowered their price target on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Finally, Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, XP has an average rating of “Moderate Buy” and a consensus target price of $23.33.
XP Price Performance
Shares of XP stock opened at $16.74 on Tuesday. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10. XP Inc. has a twelve month low of $14.80 and a twelve month high of $23.13. The company has a 50-day simple moving average of $16.29 and a two-hundred day simple moving average of $18.30.
XP Increases Dividend
The firm also recently declared an annual dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th were given a $0.20 dividend. The ex-dividend date was Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. This represents a dividend yield of 268.0%. XP’s dividend payout ratio (DPR) is presently 22.10%.
XP announced that its Board of Directors has initiated a share buyback program on Tuesday, May 19th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is 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.
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