Barings LLC Makes New Investment in XP Inc. $XP

Key Points

• Barings LLC initiated a new position in XP Inc. during the first quarter, buying 200,683 shares valued at about $3.82 million.
• Institutional interest in XP remains strong, with several other firms notably increasing their holdings; overall, about 59.15% of the stock is owned by institutional investors.
• Analysts currently have a Moderate Buy outlook on XP, with an average price target of $23.33, while the stock recently traded at $16.68 and also recently raised its annual dividend to $0.20 per share.

Barings LLC acquired a new stake in XP Inc. (NASDAQ:XP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 200,683 shares of the company's stock, valued at approximately $3,821,000.

A number of other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in XP by 692.8% during the 1st quarter. AQR Capital Management LLC now owns 217,557 shares of the company's stock worth $2,991,000 after buying an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 purchasing an additional 4,400 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company's stock valued at $33,000 after purchasing an additional 646 shares during the period. Jump Financial LLC acquired a new position in XP during the 2nd quarter valued at about $857,000. Finally, California Public Employees Retirement System boosted its stake 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 purchasing an additional 48,765 shares during the last quarter. 59.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of 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 report on Friday, May 1st. Finally, UBS Group decreased their price objective on XP from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, XP has an average rating of "Moderate Buy" and an average price target of $23.33.

XP Price Performance

XP opened at $16.68 on Friday. The stock has a market cap of $8.96 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.60 and a beta of 1.10. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13. 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 fifty day simple moving average of $16.45 and a 200 day simple moving average of $18.29.

XP Increases Dividend

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

XP declared that its Board of Directors has authorized a share 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. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.

Want to see what other hedge funds are holding XP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XP Inc. (NASDAQ:XP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.