Arrowstreet Capital Limited Partnership Sells 4,139,948 Shares of XP Inc. $XP

Arrowstreet Capital Limited Partnership cut its holdings in shares of XP Inc. (NASDAQ:XP) by 35.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,659,227 shares of the company’s stock after selling 4,139,948 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in XP were worth $145,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in XP by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock valued at $227,000 after acquiring an additional 573 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after acquiring an additional 646 shares in the last quarter. SummitTX Capital L.P. boosted its holdings in shares of XP by 2.8% in the fourth quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock worth $507,000 after acquiring an additional 857 shares during the period. California State Teachers Retirement System boosted its holdings in shares of XP by 1.6% in the third quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock worth $1,017,000 after acquiring an additional 866 shares during the period. Finally, Inspire Investing LLC grew its position in shares of XP by 1.0% in the first quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock valued at $1,697,000 after purchasing an additional 906 shares in the last quarter. Institutional investors own 59.15% of the company’s stock.

XP Stock Performance

NASDAQ XP opened at $16.69 on Friday. The company has a 50-day simple moving average of $16.30 and a two-hundred day simple moving average of $18.29. XP Inc. has a 12-month low of $14.80 and a 12-month high of $23.13. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.59 and a beta of 1.10. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP announced that its Board of Directors has authorized a share buyback program on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

XP Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This is a boost from XP’s previous annual dividend of $0.18. This represents a dividend yield of 268.0%. XP’s payout ratio is 22.10%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on XP. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group lowered their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, XP has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

About XP

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.