Banque Cantonale Vaudoise Acquires Shares of 160,000 XP Inc. $XP

Banque Cantonale Vaudoise purchased a new position in XP Inc. (NASDAQ:XP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 160,000 shares of the company’s stock, valued at approximately $3,046,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XP. Assenagon Asset Management S.A. lifted its position in shares of XP by 146.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,930,445 shares of the company’s stock valued at $36,756,000 after buying an additional 1,146,057 shares in the last quarter. Verde Servicos Internacionais S.A. purchased a new position in XP during the first quarter valued at $3,216,000. SG Americas Securities LLC grew its position in shares of XP by 158.9% during the first quarter. SG Americas Securities LLC now owns 680,507 shares of the company’s stock valued at $12,957,000 after purchasing an additional 417,674 shares in the last quarter. Hsbc Holdings PLC increased its stake in XP by 7.7% in the 4th quarter. Hsbc Holdings PLC now owns 108,818 shares of the company’s stock worth $1,791,000 after acquiring an additional 7,770 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in XP in the fourth quarter worth $225,000. Institutional investors own 59.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of XP from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, XP has an average rating of “Moderate Buy” and an average target price of $23.33.

XP Stock Performance

XP opened at $15.78 on Friday. The firm has a fifty day moving average price of $17.50 and a 200 day moving average price of $18.34. The stock has a market cap of $8.48 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.49 and a beta of 1.11. XP Inc. has a 1 year low of $14.80 and a 1 year 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.

XP Increases Dividend

The company also recently declared 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 positive change from XP’s previous annual dividend of $0.18. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a dividend yield of 268.0%. XP’s dividend payout ratio is currently 22.10%.

XP announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board 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.