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

Jennison Associates LLC trimmed its stake in shares of XP Inc. (NASDAQ:XP) by 21.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,357,313 shares of the company’s stock after selling 381,576 shares during the quarter. Jennison Associates LLC owned about 0.25% of XP worth $25,843,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in XP by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock valued at $227,000 after purchasing an additional 573 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of XP by 65.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after purchasing an additional 646 shares in the last quarter. SummitTX Capital L.P. boosted its holdings in shares of XP by 2.8% in the 4th quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock valued at $507,000 after purchasing an additional 857 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of XP by 1.6% in the 3rd quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock valued at $1,017,000 after purchasing an additional 866 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of XP by 1.0% in the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock valued at $1,697,000 after purchasing an additional 906 shares during the last quarter. 59.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on XP. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. UBS Group decreased their target price 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, Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research note 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 stock. Based on data from MarketBeat, XP presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

XP Stock Up 0.8%

Shares of XP 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 stock 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. 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 stock has a fifty day moving average of $16.36 and a 200-day moving average of $18.29.

XP Increases Dividend

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

XP declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 19th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.