Y Intercept Hong Kong Ltd Purchases New Shares in XP Inc. $XP

Y Intercept Hong Kong Ltd purchased a new position in shares of XP Inc. (NASDAQ:XP) in the first quarter, HoldingsChannel.com reports. The firm purchased 32,028 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of XP. Deltec Asset Management LLC purchased a new stake in shares of XP in the first quarter valued at about $248,000. IFM Investors Pty Ltd grew its holdings in shares of XP by 33.0% during the first quarter. IFM Investors Pty Ltd now owns 35,523 shares of the company’s stock worth $676,000 after buying an additional 8,821 shares during the last quarter. Drucker Wealth 3.0 LLC grew its holdings in shares of XP by 7.4% during the first quarter. Drucker Wealth 3.0 LLC now owns 36,176 shares of the company’s stock worth $689,000 after buying an additional 2,507 shares during the last quarter. Inspire Investing LLC increased its position in XP by 1.0% in the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock valued at $1,697,000 after acquiring an additional 906 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in XP in the 1st quarter valued at about $3,046,000. 59.15% of the stock is owned by hedge funds and other institutional investors.

XP Price Performance

Shares of NASDAQ:XP opened at $16.37 on Tuesday. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.80 billion, a P/E ratio of 9.04, a PEG 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 company has a 50-day moving average price of $16.59 and a 200 day moving average price of $18.28.

XP announced that its board has approved a share repurchase plan on Tuesday, May 19th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

XP Increases Dividend

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

Analyst Upgrades and Downgrades

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