SPX Gestao de Recursos Ltda Sells 3,008,306 Shares of XP Inc. $XP

SPX Gestao de Recursos Ltda decreased its holdings in shares of XP Inc. (NASDAQ:XP) by 71.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,187,073 shares of the company’s stock after selling 3,008,306 shares during the quarter. XP makes up 1.9% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 16th biggest position. SPX Gestao de Recursos Ltda’s holdings in XP were worth $22,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in XP by 65.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after acquiring an additional 646 shares during the period. FNY Investment Advisers LLC acquired a new stake in XP during the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $53,000 after purchasing an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in XP in the 4th quarter valued at $55,000. Finally, Vestcor Inc acquired a new position in XP in the 3rd quarter valued at $64,000. 59.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on XP shares. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group reduced their price target 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, XP presently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

XP Stock Down 0.1%

Shares of XP opened at $16.67 on Friday. The firm has a 50 day simple moving average of $16.40 and a two-hundred day simple moving average of $18.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The company has a market cap of $8.96 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.59 and a beta of 1.10.

XP Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.20 per share. 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. This represents a yield of 268.0%. XP’s payout ratio is presently 22.10%.

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