Swedbank AB Decreases Stock Position in XP Inc. $XP

Swedbank AB lessened its holdings in XP Inc. (NASDAQ:XP) by 25.5% during the 1st quarter, Holdings Channel reports. The firm owned 165,300 shares of the company’s stock after selling 56,600 shares during the quarter. Swedbank AB’s holdings in XP were worth $3,147,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake 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 worth $33,000 after purchasing an additional 646 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of XP in the 4th quarter valued at about $34,000. Caitong International Asset Management Co. Ltd grew its stake in 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 worth $53,000 after buying an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in XP during the 4th quarter worth $55,000. Finally, Vestcor Inc purchased a new stake in shares of XP in the third quarter worth about $64,000. Institutional investors and hedge funds own 59.15% of the company’s stock.

XP Stock Performance

Shares of NASDAQ:XP traded up $0.51 on Friday, hitting $16.92. The company’s stock had a trading volume of 3,919,659 shares, compared to its average volume of 5,882,532. The stock’s 50-day moving average is $16.64 and its two-hundred day moving average is $18.26. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 0.60 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. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13.

XP declared that its Board of Directors has initiated 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 generally a sign that the company’s board of directors believes its stock is undervalued.

XP Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th were issued a $0.20 dividend. This represents a dividend yield of 268.0%. This is a boost from XP’s previous annual dividend of $0.18. The ex-dividend date was Wednesday, June 10th. XP’s payout ratio is 22.10%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group decreased their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, XP presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

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.