Public Employees Retirement System of Ohio Sells 1,236,590 Shares of XP Inc. $XP

Public Employees Retirement System of Ohio lessened its stake in shares of XP Inc. (NASDAQ:XP) by 63.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 700,371 shares of the company’s stock after selling 1,236,590 shares during the period. Public Employees Retirement System of Ohio owned 0.13% of XP worth $13,335,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 646 shares during the last quarter. FNY Investment Advisers LLC bought a new position in XP in the fourth quarter valued at about $34,000. Caitong International Asset Management Co. Ltd raised its holdings 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 buying an additional 2,675 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of XP during the fourth quarter worth $55,000. Finally, Parallel Advisors LLC grew its position in shares of XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after buying an additional 1,775 shares during the last quarter. 59.15% of the stock is owned by institutional investors.

XP Stock Performance

NASDAQ XP opened at $16.69 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. 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. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13. The company has a fifty day moving average price of $16.30 and a 200-day moving average price of $18.30.

XP announced that its board has approved a share repurchase program on Tuesday, May 19th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

XP Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group decreased their price target on XP from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, XP presently has an average 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.