California Public Employees Retirement System Trims Stock Holdings in XP Inc. $XP

California Public Employees Retirement System trimmed its holdings in shares of XP Inc. (NASDAQ:XP) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 744,222 shares of the company’s stock after selling 39,739 shares during the period. California Public Employees Retirement System owned approximately 0.14% of XP worth $14,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XP. Assetmark Inc. purchased a new stake in XP during the 1st quarter valued at $6,234,000. Barings LLC purchased a new stake in shares of XP in the first quarter worth $3,821,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in XP in the 1st quarter worth $15,184,000. Twin Capital Management Inc. purchased a new stake in XP in the 1st quarter worth $693,000. Finally, Triglav Investments D.O.O. increased its stake in XP by 30.4% in the 1st quarter. Triglav Investments D.O.O. now owns 60,033 shares of the company’s stock worth $1,143,000 after buying an additional 14,000 shares in the last quarter. 59.15% of the stock is owned by institutional investors.

XP Trading Down 0.8%

Shares of XP opened at $16.69 on Friday. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.60 and a beta of 1.10. 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 Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The company has a 50-day moving average of $16.30 and a 200 day moving average of $18.29.

XP Increases Dividend

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

XP announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

XP has been the subject of a number of recent analyst reports. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. UBS Group decreased their target price on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, XP has a consensus rating of “Moderate Buy” and a consensus target price 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.