Hsbc Holdings PLC Grows Holdings in XP Inc. $XP

Hsbc Holdings PLC boosted its position in XP Inc. (NASDAQ:XP) by 876.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,062,720 shares of the company’s stock after purchasing an additional 953,902 shares during the period. Hsbc Holdings PLC’s holdings in XP were worth $20,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 646 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of XP in the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 2,675 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of XP in the fourth quarter valued at approximately $55,000. Finally, Vestcor Inc bought a new position in shares of XP in the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Stock Performance

Shares of XP stock opened at $16.85 on Wednesday. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 0.60 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66. XP Inc. has a 52 week low of $14.80 and a 52 week high of $23.13. The firm’s 50-day simple moving average is $16.33 and its two-hundred day simple moving average is $18.29.

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

XP Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group reduced 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 assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.