Wealth High Governance Asset Management Ltda. Has $1.71 Million Stock Position in XP Inc. $XP

Wealth High Governance Asset Management Ltda. decreased its stake in XP Inc. (NASDAQ:XP) by 59.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,784 shares of the company’s stock after selling 130,740 shares during the quarter. Wealth High Governance Asset Management Ltda.’s holdings in XP were worth $1,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XP. EverSource Wealth Advisors LLC increased its holdings in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after buying an additional 646 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of XP in the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of XP by 1,783.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after acquiring an additional 2,675 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of XP in the 4th quarter worth approximately $55,000. Finally, Parallel Advisors LLC boosted its holdings in shares of XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after acquiring an additional 1,775 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Performance

Shares of NASDAQ XP opened at $17.06 on Monday. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The company has a 50-day moving average of $16.25 and a two-hundred day moving average of $18.29. The company has a market cap of $9.17 billion, a PE ratio of 9.43, a P/E/G ratio of 0.49 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 has initiated a stock repurchase program on Tuesday, May 19th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

XP Increases Dividend

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

Wall Street Analyst Weigh In

XP has been the subject of a number of recent analyst reports. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group decreased 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. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.33.

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.