Arrowstreet Capital Limited Partnership Grows Stock Holdings in XP Inc. $XP

Arrowstreet Capital Limited Partnership boosted its position in XP Inc. (NASDAQ:XP) by 10.9% in the 4th quarter, Holdings Channel reports. The fund owned 11,799,175 shares of the company’s stock after purchasing an additional 1,160,977 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in XP were worth $193,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XP. AQR Capital Management LLC grew its stake in XP by 692.8% in the 1st quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock worth $2,991,000 after acquiring an additional 190,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in XP by 174.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock worth $100,000 after acquiring an additional 4,400 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 646 shares during the last quarter. Jump Financial LLC acquired a new position in shares of XP in the 2nd quarter valued at $857,000. Finally, California Public Employees Retirement System boosted its holdings in shares of XP by 7.2% in the 2nd quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock valued at $14,613,000 after purchasing an additional 48,765 shares during the last quarter. 59.15% of the stock is owned by hedge funds and other institutional investors.

XP Stock Performance

Shares of XP stock opened at $16.02 on Monday. 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 firm has a market capitalization of $8.61 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.51 and a beta of 1.11. The company’s fifty day moving average price is $18.21 and its two-hundred day moving average price is $18.57.

XP declared that its Board of Directors has approved a share repurchase program on Tuesday, May 19th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

XP Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, June 10th. This represents a yield of 268.0%. This is an increase from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio (DPR) is presently 22.10%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on XP. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, UBS Group decreased their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

XP Company 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.