Swiss National Bank Has $14.76 Million Stock Holdings in XP Inc. $XP

Key Points

• Swiss National Bank cut its XP Inc. stake by 12% in the first quarter, selling 105,300 shares and leaving it with 775,264 shares worth about $14.76 million.
• XP continues to attract institutional interest, with 59.15% of its shares held by institutional investors and hedge funds, even as some funds adjusted their positions.
• The company raised its dividend to $0.20 per share from $0.18 and has an analyst consensus rating of Moderate Buy with an average price target of $23.33.

Swiss National Bank trimmed its position in XP Inc. (NASDAQ:XP - Free Report) by 12.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 775,264 shares of the company's stock after selling 105,300 shares during the period. Swiss National Bank owned about 0.14% of XP worth $14,761,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in XP. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 valued at $7,396,000 after purchasing an additional 104,395 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 purchasing an additional 1,300,982 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of XP during the 4th quarter worth approximately $1,375,000. Pictet Asset Management Holding SA raised its stake in shares of XP by 11.6% during the fourth 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 last quarter. Finally, Wealth High Governance Capital Ltda bought a new stake in shares of XP during the fourth quarter worth approximately $9,990,000. 59.15% of the stock is owned by institutional investors and hedge funds.

XP Price Performance

XP stock opened at $16.69 on Friday. 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 $8.97 billion, a P/E ratio of 9.22, a PEG ratio of 0.59 and a beta of 1.10. The business has a 50-day moving average of $16.30 and a 200-day moving average of $18.29. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13.

XP Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were issued a dividend of $0.20 per share. This is an increase from XP's previous annual dividend of $0.18. This represents a yield of 268.0%. The ex-dividend date was Wednesday, June 10th. XP's dividend payout ratio is presently 22.10%.

XP announced that its board has authorized a stock buyback program on Tuesday, May 19th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XP. Weiss Ratings raised shares of XP from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. UBS Group dropped their target price on shares of XP from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Finally, Zacks Research downgraded XP from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $23.33.

XP Company 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.

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