Thornburg Investment Management Inc. Acquires Shares of 450,131 XP Inc. $XP

Thornburg Investment Management Inc. acquired a new stake in XP Inc. (NASDAQ:XP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 450,131 shares of the company’s stock, valued at approximately $7,369,000. Thornburg Investment Management Inc. owned 0.08% of XP as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of XP. EverSource Wealth Advisors LLC boosted its position in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after buying an additional 646 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of XP during the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd boosted its position in shares of XP by 1,783.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after buying an additional 2,675 shares during the last quarter. Vestcor Inc purchased a new position in shares of XP during the third quarter valued at approximately $64,000. Finally, Virtus Advisers LLC purchased a new position in shares of XP during the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Price Performance

XP stock opened at $16.02 on Monday. The stock’s fifty day simple moving average is $18.21 and its two-hundred day simple moving average is $18.57. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The stock has a market cap of $8.61 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.51 and a beta of 1.11.

XP declared that its board has authorized a stock buyback program on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

XP Increases Dividend

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

Analysts Set New Price Targets

XP has been the topic of several analyst reports. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. UBS Group cut 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 report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.75.

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.