Quantinno Capital Management LP Boosts Holdings in XP Inc. $XP

Quantinno Capital Management LP lifted its position in shares of XP Inc. (NASDAQ:XP) by 44.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,252 shares of the company’s stock after buying an additional 64,829 shares during the period. Quantinno Capital Management LP’s holdings in XP were worth $3,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. ARGA Investment Management LP lifted its holdings in XP by 4.0% in the first 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 last quarter. Massachusetts Financial Services Co. MA increased 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 acquiring an additional 1,300,982 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in XP by 10.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock worth $193,152,000 after acquiring an additional 1,160,977 shares during the last quarter. State Street Corp increased 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 acquiring an additional 125,818 shares during the last quarter. Finally, Morgan Stanley raised its position in XP by 13.2% in 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 during the period. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. UBS Group cut their price objective on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, XP has an average rating of “Moderate Buy” and an average price target of $23.33.

XP Stock Performance

NASDAQ XP opened at $16.24 on Friday. The company has a market cap of $8.73 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.48 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The stock has a 50-day moving average of $16.23 and a two-hundred day moving average of $18.27. XP Inc. has a 1-year low of $14.80 and a 1-year 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 paid a $0.20 dividend. 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 22.10%.

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