Havemeyer Place LP Takes $846,000 Position in XP Inc. $XP

Havemeyer Place LP purchased a new stake in XP Inc. (NASDAQ:XP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 51,663 shares of the company’s stock, valued at approximately $846,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of XP by 692.8% during the 1st quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock valued at $2,991,000 after acquiring an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of XP by 174.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock valued at $100,000 after acquiring an additional 4,400 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after acquiring an additional 646 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of XP during the 2nd quarter valued at $857,000. Finally, California Public Employees Retirement System boosted its holdings in shares of XP by 7.2% during the 2nd quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock valued at $14,613,000 after acquiring an additional 48,765 shares in the last quarter. Institutional investors own 59.15% of the company’s stock.

Analyst Ratings Changes

XP has been the topic of several recent research reports. UBS Group cut their price objective on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, XP presently has an average rating of “Moderate Buy” and a consensus target price of $22.75.

XP Stock Down 0.5%

Shares of XP opened at $15.26 on Tuesday. The company has a market capitalization of $8.20 billion, a PE ratio of 8.43, a PEG ratio of 0.49 and a beta of 1.11. XP Inc. has a 12 month low of $15.09 and a 12 month high of $23.13. The stock’s 50-day moving average price is $18.43 and its two-hundred day moving average price is $18.63. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP Increases Dividend

The business 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 dividend of $0.20 per share. This represents a yield of 115.0%. The ex-dividend date of this dividend is Wednesday, June 10th. This is a boost from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio (DPR) is presently 22.10%.

XP declared that its Board of Directors has approved a stock buyback program 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. Shares buyback programs are generally a sign 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.