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

Havemeyer Place LP acquired a new stake in XP Inc. (NASDAQ:XP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 51,663 shares of the company’s stock, valued at approximately $846,000.

Several other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted 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 worth $227,000 after purchasing an additional 573 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after purchasing an additional 646 shares during the last quarter. California State Teachers Retirement System lifted its holdings in XP by 1.6% during the 3rd quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock worth $1,017,000 after purchasing an additional 866 shares during the last quarter. Aberdeen Group plc lifted its holdings in XP by 4.7% during the 3rd quarter. Aberdeen Group plc now owns 25,202 shares of the company’s stock worth $474,000 after purchasing an additional 1,120 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its holdings in XP by 7.3% during the 4th quarter. OneAscent Financial Services LLC now owns 19,837 shares of the company’s stock worth $325,000 after purchasing an additional 1,344 shares during the last quarter. 59.15% of the stock is owned by institutional investors and hedge funds.

XP Price Performance

XP stock opened at $15.26 on Tuesday. The stock’s fifty day moving average price is $18.43 and its two-hundred day moving average price is $18.63. XP Inc. has a one year low of $15.09 and a one 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 6.66. The firm has a market cap of $8.20 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 0.49 and a beta of 1.11.

XP declared that its Board of Directors has initiated a stock buyback plan 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. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

XP Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be paid a $0.20 dividend. This represents a dividend yield of 115.0%. The ex-dividend date is Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio is 22.10%.

Analyst Upgrades and Downgrades

A number of research firms have commented on XP. Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group lowered their price objective on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.75.

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.