Employees Retirement System of Texas Has $424,000 Stock Holdings in XP Inc. $XP

Employees Retirement System of Texas reduced its stake in XP Inc. (NASDAQ:XP) by 57.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,905 shares of the company’s stock after selling 34,343 shares during the quarter. Employees Retirement System of Texas’ holdings in XP were worth $424,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of XP by 65.4% in the second 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. FNY Investment Advisers LLC acquired a new stake in XP during the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake in XP by 1,783.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after purchasing an additional 2,675 shares during the period. Vestcor Inc bought a new stake in XP in the 3rd quarter valued at $64,000. Finally, Virtus Advisers LLC acquired a new position in XP in the 3rd quarter valued at $75,000. 59.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XP has been the subject of a number of recent research reports. Weiss Ratings cut shares of XP from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group boosted their price objective on shares of XP from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.40.

XP Stock Down 0.5%

XP stock opened at $17.14 on Thursday. XP Inc. has a 52 week low of $15.61 and a 52 week high of $23.13. The business has a 50-day simple moving average of $18.90 and a 200 day simple moving average of $18.79. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.21 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17.

XP Increases Dividend

The firm also recently announced 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 of this dividend is Wednesday, June 10th. This represents a dividend yield of 115.0%. This is a boost from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio (DPR) is 9.94%.

XP declared that its Board of Directors has approved a stock buyback program on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.