Employees Retirement System of Texas Sells 34,343 Shares of XP Inc. $XP

Employees Retirement System of Texas decreased its position in shares of XP Inc. (NASDAQ:XP) by 57.0% during the 4th quarter, HoldingsChannel reports. The fund owned 25,905 shares of the company’s stock after selling 34,343 shares during the period. Employees Retirement System of Texas’ holdings in XP were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of XP. EverSource Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of XP in the fourth quarter valued at approximately $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 valued at $53,000 after buying an additional 2,675 shares during the period. Vestcor Inc bought a new position in XP in the 3rd quarter valued at approximately $64,000. Finally, Virtus Advisers LLC bought a new position in XP in the 3rd quarter valued at approximately $75,000. Institutional investors own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on XP shares. UBS Group upped their price target on shares of XP from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Zacks Research cut shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded XP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

XP Stock Down 0.5%

XP stock opened at $17.14 on Thursday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.55 and a beta of 1.17. XP Inc. has a 52-week low of $15.61 and a 52-week 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 firm has a 50 day moving average price of $18.90 and a two-hundred day moving average price of $18.79.

XP Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. This represents a yield of 115.0%. XP’s dividend payout ratio (DPR) is presently 9.94%.

XP declared that its board has authorized a stock buyback program on Tuesday, May 19th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management 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.