Assenagon Asset Management S.A. Acquires 1,146,057 Shares of XP Inc. $XP

Assenagon Asset Management S.A. raised its stake in shares of XP Inc. (NASDAQ:XP) by 146.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,930,445 shares of the company’s stock after purchasing an additional 1,146,057 shares during the period. Assenagon Asset Management S.A.’s holdings in XP were worth $36,756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. PNC Financial Services Group Inc. grew 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 valued at $227,000 after purchasing an additional 573 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 worth $33,000 after buying an additional 646 shares during the last quarter. SummitTX Capital L.P. boosted its holdings in shares of XP by 2.8% in the 4th quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock worth $507,000 after buying an additional 857 shares during the last quarter. California State Teachers Retirement System grew its position in 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 buying an additional 866 shares during the period. Finally, OneAscent Financial Services LLC grew its position in XP by 7.3% during the fourth quarter. OneAscent Financial Services LLC now owns 19,837 shares of the company’s stock valued at $325,000 after buying an additional 1,344 shares during the period. 59.15% of the stock is owned by hedge funds and other institutional investors.

XP Price Performance

Shares of NASDAQ:XP opened at $16.13 on Friday. The business has a fifty day moving average price of $17.41 and a 200-day moving average price of $18.33. 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 $8.67 billion, a PE ratio of 8.91, a PEG ratio of 0.50 and a beta of 1.11. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13.

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

XP Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on XP shares. Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group dropped their price objective 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. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, XP currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

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.