General Atlantic L.P. Sells 2,818,600 Shares of XP Inc. $XP

General Atlantic L.P. decreased its holdings in shares of XP Inc. (NASDAQ:XP) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,699,133 shares of the company’s stock after selling 2,818,600 shares during the quarter. XP makes up about 12.9% of General Atlantic L.P.’s investment portfolio, making the stock its 3rd biggest holding. General Atlantic L.P.’s holdings in XP were worth $371,585,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. ARGA Investment Management LP increased its stake in XP by 119.2% in the 4th 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 during the last quarter. Orbis Allan Gray Ltd acquired a new stake in XP in the 2nd quarter valued at $161,639,000. Schroder Investment Management Group increased its stake in XP by 74.4% in the 3rd quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company’s stock valued at $230,895,000 after buying an additional 5,240,306 shares during the last quarter. Norges Bank acquired a new stake in shares of XP in the fourth quarter valued at about $80,196,000. Finally, AQR Capital Management LLC increased its position in shares of XP by 1,433.5% in the second quarter. AQR Capital Management LLC now owns 3,336,183 shares of the company’s stock valued at $67,391,000 after acquiring an additional 3,118,626 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.

XP Trading Down 0.8%

Shares of XP stock opened at $15.68 on Wednesday. The stock has a market cap of $8.43 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.50 and a beta of 1.11. The business’s 50 day moving average is $18.10 and its 200-day moving average is $18.53. XP Inc. has a 12-month low of $14.80 and a 12-month high of $23.13. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, June 10th. This is an increase from XP’s previous annual dividend of $0.18. This represents a yield of 268.0%. XP’s dividend payout ratio is 22.10%.

XP announced that its board has initiated a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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