Barings LLC Takes $3.82 Million Position in XP Inc. $XP

Barings LLC acquired a new position in XP Inc. (NASDAQ:XP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,683 shares of the company’s stock, valued at approximately $3,821,000.

Several other large investors have also added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in XP by 692.8% in the first quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock valued at $2,991,000 after purchasing an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in XP by 174.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock worth $100,000 after buying an additional 4,400 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after buying an additional 646 shares during the last quarter. Jump Financial LLC acquired a new position in shares of XP during the 2nd quarter worth about $857,000. Finally, California Public Employees Retirement System grew its holdings in shares of XP by 7.2% in the 2nd quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock valued at $14,613,000 after acquiring an additional 48,765 shares in the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.

Analyst Upgrades and Downgrades

XP has been the topic of a number of recent research reports. UBS Group lowered their target price on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, XP has a consensus rating of “Moderate Buy” and an average price target of $23.33.

XP Stock Down 1.1%

XP opened at $16.68 on Friday. The stock’s fifty day simple moving average is $16.45 and its 200 day simple moving average is $18.29. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The stock has a market cap of $8.96 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.60 and a beta of 1.10. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP declared that its Board of Directors has approved a share buyback plan on Tuesday, May 19th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

XP Increases Dividend

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

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.