Verde Servicos Internacionais S.A. Takes $3.22 Million Position in XP Inc. $XP

Verde Servicos Internacionais S.A. acquired a new position in shares of XP Inc. (NASDAQ:XP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 168,923 shares of the company’s stock, valued at approximately $3,216,000. XP makes up approximately 1.0% of Verde Servicos Internacionais S.A.’s investment portfolio, making the stock its 23rd biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of XP by 692.8% during the first quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock worth $2,991,000 after buying an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of XP by 174.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock valued at $100,000 after acquiring an additional 4,400 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after acquiring an additional 646 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of XP during the 2nd quarter valued at $857,000. Finally, California Public Employees Retirement System boosted its holdings in shares of XP by 7.2% during the 2nd quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock valued at $14,613,000 after acquiring an additional 48,765 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Down 1.7%

Shares of NASDAQ XP opened at $15.72 on Wednesday. The company’s 50 day moving average price is $17.71 and its 200-day moving average price is $18.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66. XP Inc. has a 52-week low of $14.80 and a 52-week high of $23.13. The company has a market capitalization of $8.45 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 0.51 and a beta of 1.11.

XP announced that its Board of Directors has approved a share buyback plan on Tuesday, May 19th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

XP Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on XP shares. UBS Group lowered their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Three 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, the company presently has an average rating of “Moderate Buy” and an average price target of $23.33.

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.