XP Inc. $XP Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its holdings in XP Inc. (NASDAQ:XP) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,377,265 shares of the company’s stock after selling 141,706 shares during the quarter. Fisher Asset Management LLC owned about 0.81% of XP worth $71,656,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in XP by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock valued at $200,746,000 after purchasing an additional 1,300,982 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings 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 valued at $7,396,000 after buying an additional 104,395 shares during the period. ARGA Investment Management LP boosted its stake in shares of XP by 119.2% in the fourth quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock valued at $325,764,000 after buying an additional 10,820,050 shares in the last quarter. Wealth High Governance Capital Ltda purchased a new stake in shares of XP in the fourth quarter valued at approximately $9,990,000. Finally, Pictet Asset Management Holding SA grew its holdings in XP by 11.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 539,486 shares of the company’s stock worth $8,831,000 after acquiring an additional 56,090 shares during the period. 59.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XP has been the topic of several research analyst reports. UBS Group boosted their target price on shares of XP from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Zacks Research cut shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded shares of XP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.40.

XP Stock Performance

NASDAQ XP opened at $16.82 on Tuesday. The business has a 50 day moving average price of $18.96 and a 200 day moving average price of $18.81. The company has a market capitalization of $9.04 billion, a P/E ratio of 9.29, a PEG ratio of 0.54 and a beta of 1.17. XP Inc. has a 1-year low of $15.61 and a 1-year high of $23.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 5.36.

XP Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be given a $0.20 dividend. This is an increase from XP’s previous annual dividend of $0.18. This represents a dividend yield of 115.0%. The ex-dividend date is Wednesday, June 10th. XP’s dividend payout ratio (DPR) is 9.94%.

XP announced that its Board of Directors has approved a share buyback plan 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. Shares repurchase plans are often an indication 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.