Wealth High Governance Asset Management Ltda. Sells 130,740 Shares of XP Inc. $XP

Wealth High Governance Asset Management Ltda. lessened its position in shares of XP Inc. (NASDAQ:XP) by 59.3% during the 1st quarter, HoldingsChannel reports. The fund owned 89,784 shares of the company’s stock after selling 130,740 shares during the quarter. Wealth High Governance Asset Management Ltda.’s holdings in XP were worth $1,709,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in XP by 65.4% in the second 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 period. FNY Investment Advisers LLC acquired a new position in XP during the 4th quarter valued at about $34,000. Caitong International Asset Management Co. Ltd lifted its position in XP by 1,783.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after purchasing an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of XP in the 4th quarter valued at about $55,000. Finally, Parallel Advisors LLC boosted its stake 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 purchasing an additional 1,775 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on XP. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. UBS Group cut their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Finally, Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, XP presently has an average rating of “Moderate Buy” and an average price target of $23.33.

XP Stock Performance

Shares of XP opened at $17.06 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. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The firm has a 50-day moving average of $16.25 and a 200-day moving average of $18.29. The company has a market cap of $9.17 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10.

XP Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were issued a dividend of $0.20 per share. This represents a dividend yield of 268.0%. 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. XP’s payout ratio is presently 22.10%.

XP declared that its Board of Directors has approved a share buyback 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. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

XP 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.