Handelsbanken Fonder AB Increases Stake in XP Inc. $XP

Handelsbanken Fonder AB increased its holdings in XP Inc. (NASDAQ:XP) by 23.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 295,584 shares of the company’s stock after purchasing an additional 55,728 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of XP worth $4,839,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. ARGA Investment Management LP raised its holdings in XP by 119.2% during the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock valued at $325,764,000 after buying an additional 10,820,050 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in XP during the 2nd quarter valued at $161,639,000. Schroder Investment Management Group raised its holdings in XP by 74.4% during the 3rd quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company’s stock valued at $230,895,000 after buying an additional 5,240,306 shares during the last quarter. AQR Capital Management LLC raised its holdings in XP by 1,433.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,336,183 shares of the company’s stock valued at $67,391,000 after buying an additional 3,118,626 shares during the last quarter. Finally, Oaktree Capital Management LP bought a new stake in XP during the 3rd quarter valued at $38,198,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Trading Down 6.1%

NASDAQ:XP opened at $16.82 on Friday. The company has a fifty day moving average of $18.98 and a 200 day moving average of $18.81. XP Inc. has a 52 week low of $15.61 and a 52 week high of $23.13. The company has a quick ratio of 5.36, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.04 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.57 and a beta of 1.17.

XP declared that its Board of Directors has approved a stock buyback program on Tuesday, May 19th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

XP Increases Dividend

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

Analyst Upgrades and Downgrades

XP has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of XP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, 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 report on Thursday, April 2nd. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.