DNB Asset Management AS lessened its stake in shares of XP Inc. (NASDAQ:XP – Free Report) by 72.3% during the 4th quarter, HoldingsChannel reports. The firm owned 44,043 shares of the company’s stock after selling 114,994 shares during the quarter. DNB Asset Management AS’s holdings in XP were worth $721,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dodge & Cox grew its holdings in XP by 0.5% during the third quarter. Dodge & Cox now owns 34,478,145 shares of the company’s stock valued at $647,844,000 after purchasing an additional 169,700 shares during the last quarter. ARGA Investment Management LP boosted its stake in XP by 119.2% during the fourth quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock worth $325,764,000 after buying an additional 10,820,050 shares in the last quarter. Schroder Investment Management Group boosted its stake in XP by 74.4% during the third quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company’s stock worth $230,895,000 after buying an additional 5,240,306 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in XP by 11.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock worth $200,746,000 after buying an additional 1,300,982 shares in the last quarter. Finally, State Street Corp boosted its stake in XP by 1.3% during the second quarter. State Street Corp now owns 9,696,864 shares of the company’s stock worth $195,877,000 after buying an additional 125,818 shares in the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.
Analyst Upgrades and Downgrades
XP has been the topic of a number of recent research reports. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. UBS Group lifted their price target on XP from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings cut XP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.
XP Stock Performance
Shares of NASDAQ:XP opened at $17.69 on Thursday. The stock has a market capitalization of $9.51 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.53 and a beta of 1.17. XP Inc. has a 1-year low of $15.61 and a 1-year high of $23.13. The company has a current ratio of 6.66, a quick ratio of 5.36 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $19.09 and a two-hundred day moving average price of $18.83.
XP Increases Dividend
The business also recently announced an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.20 per share. This represents a dividend yield of 115.0%. The ex-dividend date is Wednesday, June 10th. This is an increase from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio is presently 22.10%.
XP declared that its board has initiated a stock buyback program on Tuesday, May 19th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management 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.
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