XP Inc. $XP Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of XP Inc. (NASDAQ:XP) by 9.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 871,561 shares of the company’s stock after purchasing an additional 71,674 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in XP were worth $16,595,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ARGA Investment Management LP grew its holdings in XP by 119.2% during the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock valued at $325,764,000 after purchasing an additional 10,820,050 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in XP during the 2nd quarter worth $161,639,000. Norges Bank acquired a new position in XP in the 4th quarter worth $80,196,000. AQR Capital Management LLC lifted its holdings in XP by 1,433.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,336,183 shares of the company’s stock worth $67,391,000 after buying an additional 3,118,626 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in XP in the 4th quarter valued at about $39,145,000. 59.15% of the stock is owned by institutional investors and hedge funds.

XP Trading Up 3.1%

NASDAQ XP opened at $16.87 on Wednesday. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13. 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 company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.58 and a beta of 1.10. The company’s fifty day moving average price is $16.55 and its two-hundred day moving average price is $18.28.

XP Increases Dividend

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

XP announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 19th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XP. UBS Group lowered their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.