XP Inc. $XP Shares Sold by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda cut its stake in shares of XP Inc. (NASDAQ:XP) by 73.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,108 shares of the company’s stock after selling 284,630 shares during the period. Wealth High Governance Capital Ltda’s holdings in XP were worth $2,001,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in XP by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock worth $227,000 after purchasing an additional 573 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after buying an additional 646 shares during the period. SummitTX Capital L.P. increased its position in shares of XP by 2.8% in the fourth quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock worth $507,000 after acquiring an additional 857 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of XP by 1.6% during the third quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock valued at $1,017,000 after acquiring an additional 866 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of XP by 1.0% during the first quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock valued at $1,697,000 after acquiring an additional 906 shares during the period. 59.15% of the stock is owned by hedge funds and other institutional investors.

XP Price Performance

NASDAQ XP opened at $17.06 on Monday. 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 firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10. The company has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $18.29. XP Inc. has a 52-week low of $14.80 and a 52-week high of $23.13.

XP declared that its board has approved a stock repurchase plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

XP Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th were given a $0.20 dividend. This represents a yield of 268.0%. The ex-dividend date was Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. XP’s payout ratio is currently 22.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. UBS Group reduced their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. 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, XP has an average rating of “Moderate Buy” and a consensus target price of $23.33.

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.