Verde Servicos Internacionais S.A. Acquires Shares of 168,923 XP Inc. $XP

Verde Servicos Internacionais S.A. acquired a new stake in XP Inc. (NASDAQ:XP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 168,923 shares of the company’s stock, valued at approximately $3,216,000. XP accounts for about 1.0% of Verde Servicos Internacionais S.A.’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds also recently modified their holdings of XP. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in XP by 29.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company’s stock worth $7,396,000 after purchasing an additional 104,395 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in XP by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock valued at $200,746,000 after buying an additional 1,300,982 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in XP during the 4th quarter worth $1,375,000. Pictet Asset Management Holding SA increased its position in XP by 11.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 539,486 shares of the company’s stock worth $8,831,000 after buying an additional 56,090 shares during the period. Finally, Wealth High Governance Capital Ltda acquired a new stake in shares of XP during the fourth quarter worth $9,990,000. Institutional investors and hedge funds own 59.15% of the company’s stock.

XP Stock Performance

NASDAQ XP opened at $15.72 on Wednesday. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 0.51 and a beta of 1.11. The firm’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $18.39. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13.

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 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

XP Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, June 10th. This is a boost from XP’s previous annual dividend of $0.18. This represents a yield of 268.0%. XP’s dividend payout ratio is currently 22.10%.

Wall Street Analysts Forecast Growth

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