Jennison Associates LLC Has $25.84 Million Holdings in XP Inc. $XP

Jennison Associates LLC decreased its holdings in XP Inc. (NASDAQ:XP) by 21.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,357,313 shares of the company’s stock after selling 381,576 shares during the period. Jennison Associates LLC’s holdings in XP were worth $25,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assetmark Inc. acquired a new position in XP during the 1st quarter worth about $6,234,000. Barings LLC bought a new position in shares of XP during the first quarter worth about $3,821,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of XP during the first quarter worth about $15,184,000. Twin Capital Management Inc. acquired a new position in shares of XP in the first quarter worth approximately $693,000. Finally, Triglav Investments D.O.O. lifted its stake in shares of XP by 30.4% in the first quarter. Triglav Investments D.O.O. now owns 60,033 shares of the company’s stock worth $1,143,000 after acquiring an additional 14,000 shares during the period. 59.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on XP. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, UBS Group lowered their price objective on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, XP has an average rating of “Moderate Buy” and an average target price of $23.33.

XP Trading Up 0.8%

Shares of XP stock opened at $16.80 on Tuesday. XP Inc. has a 52-week low of $14.80 and a 52-week high of $23.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66. The company has a 50-day simple moving average of $16.36 and a two-hundred day simple moving average of $18.29. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 0.59 and a beta of 1.10.

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

XP Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th were paid a $0.20 dividend. This represents a dividend yield of 268.0%. The ex-dividend date was 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 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.