Banque Cantonale Vaudoise Takes Position in XP Inc. $XP

Banque Cantonale Vaudoise bought a new stake in XP Inc. (NASDAQ:XP) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 160,000 shares of the company’s stock, valued at approximately $3,046,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in XP by 65.4% in the second 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. FNY Investment Advisers LLC purchased a new stake in XP in the 4th quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of XP by 1,783.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after acquiring an additional 2,675 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of XP during the 4th quarter worth about $55,000. Finally, Vestcor Inc purchased a new position in shares of XP during the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on XP shares. 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 shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group cut 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

XP Price Performance

Shares of NASDAQ:XP opened at $15.78 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.49 and a beta of 1.11. The stock’s 50 day moving average price is $17.50 and its 200 day moving average price is $18.34. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13.

XP Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, June 18th. Stockholders 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 dividend yield of 268.0%. The ex-dividend date was Wednesday, June 10th. XP’s dividend payout ratio (DPR) is presently 22.10%.

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

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.