XP Inc. $XP Holdings Reduced by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda lowered its position in XP Inc. (NASDAQ:XP) by 73.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,108 shares of the company’s stock after selling 284,630 shares during the quarter. Wealth High Governance Capital Ltda’s holdings in XP were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. ARGA Investment Management LP increased its position in XP by 4.0% in the 1st quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock valued at $394,112,000 after acquiring an additional 799,048 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of XP by 11.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock worth $200,746,000 after purchasing an additional 1,300,982 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of XP by 10.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock valued at $193,152,000 after purchasing an additional 1,160,977 shares during the period. State Street Corp increased its holdings in shares of XP by 1.3% during the second quarter. State Street Corp now owns 9,696,864 shares of the company’s stock valued at $195,877,000 after purchasing an additional 125,818 shares during the period. Finally, Morgan Stanley raised its stake in shares of XP by 13.2% during the fourth quarter. Morgan Stanley now owns 9,524,277 shares of the company’s stock valued at $155,912,000 after purchasing an additional 1,113,641 shares in the last quarter. Institutional investors own 59.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, UBS Group dropped their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, XP presently has an average rating of “Moderate Buy” and an average target price of $23.33.

XP Price Performance

Shares of XP stock opened at $17.06 on Monday. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66. The business’s fifty day moving average is $16.25 and its 200-day moving average is $18.29. The stock has a market cap of $9.17 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10.

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

XP announced that its board has approved a stock repurchase plan 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 plans are typically an indication that the company’s board of directors 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.