Handelsbanken Fonder AB Buys 55,728 Shares of XP Inc. $XP

Handelsbanken Fonder AB grew its stake in XP Inc. (NASDAQ:XP) by 23.2% in the 4th quarter, Holdings Channel reports. The firm owned 295,584 shares of the company’s stock after purchasing an additional 55,728 shares during the period. Handelsbanken Fonder AB’s holdings in XP were worth $4,839,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised 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 worth $200,746,000 after purchasing an additional 1,300,982 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in XP by 29.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company’s stock worth $7,396,000 after purchasing an additional 104,395 shares in the last quarter. ARGA Investment Management LP raised its holdings in XP by 119.2% in the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock worth $325,764,000 after purchasing an additional 10,820,050 shares in the last quarter. Wealth High Governance Capital Ltda bought a new position in XP in the 4th quarter worth $9,990,000. Finally, Rheos Capital Works Inc. increased its stake in shares of XP by 66.7% in the 4th quarter. Rheos Capital Works Inc. now owns 500,000 shares of the company’s stock worth $8,185,000 after acquiring an additional 200,000 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on XP shares. UBS Group increased their price target on shares of XP from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings lowered shares of XP from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Finally, Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, XP currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

XP Stock Down 6.1%

Shares of XP stock opened at $16.82 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 5.36. The company has a 50-day moving average of $18.98 and a 200 day moving average of $18.81. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.57 and a beta of 1.17. XP Inc. has a 1 year low of $15.61 and a 1 year high of $23.13.

XP announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 19th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign 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. Investors 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 (DPR) is 9.94%.

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.