BW Gestao de Investimentos Ltda. Makes New Investment in XP Inc. $XP

BW Gestao de Investimentos Ltda. acquired a new position in shares of XP Inc. (NASDAQ:XP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 389,738 shares of the company’s stock, valued at approximately $6,380,000. BW Gestao de Investimentos Ltda. owned 0.07% of XP at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of XP by 692.8% in the 1st quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock valued at $2,991,000 after buying an additional 190,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in XP by 174.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock worth $100,000 after purchasing an additional 4,400 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in XP by 65.4% during 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 in the last quarter. Jump Financial LLC purchased a new position in XP during the second quarter worth $857,000. Finally, California Public Employees Retirement System increased its position in XP by 7.2% during the second quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock worth $14,613,000 after buying an additional 48,765 shares in the last quarter. 59.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on XP shares. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. UBS Group boosted their price target on XP from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

XP Trading Down 2.4%

Shares of NASDAQ XP opened at $16.20 on Wednesday. The stock has a market capitalization of $8.71 billion, a P/E ratio of 8.95, a PEG ratio of 0.53 and a beta of 1.11. The stock’s 50 day moving average price is $18.77 and its two-hundred day moving average price is $18.74. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. XP Inc. has a 52-week low of $15.61 and a 52-week high of $23.13.

XP Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be given a $0.20 dividend. This represents a dividend yield of 115.0%. The ex-dividend date is Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. XP’s payout ratio is 22.10%.

XP declared that its board has approved a stock buyback plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.