Twin Capital Management Inc. Invests $693,000 in XP Inc. $XP

Twin Capital Management Inc. acquired a new position in XP Inc. (NASDAQ:XP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,376 shares of the company’s stock, valued at approximately $693,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XP. EverSource Wealth Advisors LLC lifted its holdings in XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after purchasing an additional 646 shares during the last quarter. FNY Investment Advisers LLC bought a new position in XP during the fourth quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its stake in shares of XP by 1,783.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after purchasing an additional 2,675 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of XP in the fourth quarter worth about $55,000. Finally, Vestcor Inc bought a new position in XP in the 3rd quarter worth approximately $64,000. 59.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on XP. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. 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. Finally, Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.33.

XP Price Performance

Shares of NASDAQ XP opened at $16.68 on Friday. The firm has a market capitalization of $8.96 billion, a P/E ratio of 9.22, a P/E/G 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 50-day simple moving average is $16.45 and its two-hundred day simple moving average is $18.29. XP Inc. has a twelve month low of $14.80 and a twelve month high of $23.13.

XP Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.20 per share. 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. This represents a dividend yield of 268.0%. XP’s payout ratio is presently 22.10%.

XP announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 19th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About XP

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.