Oaktree Capital Management LP lessened its holdings in shares of XP Inc. (NASDAQ:XP – Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,172,009 shares of the company’s stock after selling 148,150 shares during the quarter. XP accounts for about 0.8% of Oaktree Capital Management LP’s investment portfolio, making the stock its 25th largest holding. Oaktree Capital Management LP’s holdings in XP were worth $60,395,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in XP. AQR Capital Management LLC lifted its position in shares of XP by 692.8% during the first quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock worth $2,991,000 after purchasing an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of XP by 174.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock valued at $100,000 after acquiring an additional 4,400 shares during the period. EverSource Wealth Advisors LLC grew 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 worth $33,000 after purchasing an additional 646 shares during the last quarter. Jump Financial LLC bought a new stake in XP during the 2nd quarter valued at $857,000. Finally, California Public Employees Retirement System grew its stake in shares of XP by 7.2% in the second quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock worth $14,613,000 after purchasing an additional 48,765 shares in the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.
XP Stock Down 2.9%
Shares of XP stock opened at $16.31 on Thursday. XP Inc. has a 12-month low of $14.80 and a 12-month high of $23.13. The firm has a market capitalization of $8.77 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 0.60 and a beta of 1.10. 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’s fifty day moving average is $16.26 and its 200-day moving average is $18.30.
XP Increases Dividend
The company also recently announced an annual dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th were issued 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 is 22.10%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on XP shares. UBS Group lowered 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 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 research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock 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.
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