XP Inc. $XP Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in XP Inc. (NASDAQ:XP) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,866,728 shares of the company’s stock after acquiring an additional 204,524 shares during the quarter. Geode Capital Management LLC owned approximately 0.91% of XP worth $79,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dodge & Cox grew its position in XP by 0.5% in the 3rd quarter. Dodge & Cox now owns 34,478,145 shares of the company’s stock valued at $647,844,000 after buying an additional 169,700 shares during the last quarter. ARGA Investment Management LP grew its position in XP by 119.2% in the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock valued at $325,764,000 after buying an additional 10,820,050 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of XP by 74.4% during the 3rd quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company’s stock worth $230,895,000 after purchasing an additional 5,240,306 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of XP by 11.9% during 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. Finally, State Street Corp boosted its position in shares of XP by 1.3% during the 2nd quarter. State Street Corp now owns 9,696,864 shares of the company’s stock worth $195,877,000 after purchasing an additional 125,818 shares in the last quarter. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

XP Stock Performance

NASDAQ XP opened at $15.34 on Monday. XP Inc. has a 12 month low of $15.24 and a 12 month high of $23.13. The company has a 50-day moving average of $18.49 and a 200-day moving average of $18.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The company has a market cap of $8.24 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.49 and a beta of 1.11.

XP announced that its Board of Directors has initiated a share buyback program on Tuesday, May 19th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

XP Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.20 per share. This represents a dividend yield of 115.0%. The ex-dividend date is Wednesday, June 10th. This is an increase from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group decreased their target price on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Three investment 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 has a consensus 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.