Hsbc Holdings PLC Has $20.18 Million Stock Holdings in XP Inc. $XP

Hsbc Holdings PLC grew its stake in shares of XP Inc. (NASDAQ:XP) by 876.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,062,720 shares of the company’s stock after purchasing an additional 953,902 shares during the period. Hsbc Holdings PLC owned approximately 0.20% of XP worth $20,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in XP by 29.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company’s stock valued at $7,396,000 after acquiring an additional 104,395 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of 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 purchasing an additional 1,300,982 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of XP during the fourth quarter worth approximately $1,375,000. Pictet Asset Management Holding SA lifted its holdings in shares of XP by 11.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 539,486 shares of the company’s stock worth $8,831,000 after purchasing an additional 56,090 shares in the last quarter. Finally, Wealth High Governance Capital Ltda bought a new position in shares of XP in the 4th quarter worth $9,990,000. Institutional investors own 59.15% of the company’s stock.

XP Stock Performance

Shares of XP stock opened at $16.85 on Wednesday. The company has a market cap of $9.06 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 0.60 and a beta of 1.10. XP Inc. has a 52 week low of $14.80 and a 52 week high of $23.13. The business has a 50 day moving average price of $16.33 and a 200-day moving average price of $18.29. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were given a $0.20 dividend. This represents a yield of 268.0%. The ex-dividend date of this dividend was Wednesday, June 10th. This is an increase from XP’s previous annual dividend of $0.18. XP’s payout ratio is currently 22.10%.

XP declared that its board has initiated a share buyback program on Tuesday, May 19th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group dropped their price objective 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. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.33.

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.