XP Inc. $XP Shares Sold by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. cut its stake in shares of XP Inc. (NASDAQ:XP) by 61.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,909 shares of the company’s stock after selling 37,556 shares during the quarter. Banco BTG Pactual S.A.’s holdings in XP were worth $391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of XP by 29.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company’s stock worth $7,396,000 after buying an additional 104,395 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of XP by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock worth $200,746,000 after buying an additional 1,300,982 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of XP by 11.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 539,486 shares of the company’s stock worth $8,831,000 after buying an additional 56,090 shares in the last quarter. ARGA Investment Management LP boosted its position in shares of XP by 119.2% in the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock worth $325,764,000 after buying an additional 10,820,050 shares in the last quarter. Finally, Wealth High Governance Capital Ltda purchased a new stake in shares of XP in the 4th quarter worth about $9,990,000. 59.15% of the stock is owned by institutional investors and hedge funds.

XP Price Performance

NASDAQ:XP opened at $15.65 on Friday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.47 and a beta of 1.11. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $18.26 and its two-hundred day moving average is $18.58. XP Inc. has a 12-month low of $14.80 and a 12-month high of $23.13.

XP declared that its board has approved a share buyback plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

XP Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a dividend yield of 268.0%. This is an increase from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio is currently 22.10%.

Analyst Ratings Changes

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

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.