Healthcare of Ontario Pension Plan Trust Fund Acquires New Shares in XP Inc. $XP

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of XP Inc. (NASDAQ:XP) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 161,300 shares of the company’s stock, valued at approximately $3,071,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ARGA Investment Management LP grew its stake in XP by 4.0% in the first quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock valued at $394,112,000 after acquiring an additional 799,048 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of XP by 11.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock worth $200,746,000 after acquiring an additional 1,300,982 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of XP by 10.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock worth $193,152,000 after purchasing an additional 1,160,977 shares during the period. State Street Corp lifted its holdings 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 valued at $195,877,000 after purchasing an additional 125,818 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of XP by 13.2% during the 4th quarter. Morgan Stanley now owns 9,524,277 shares of the company’s stock valued at $155,912,000 after purchasing an additional 1,113,641 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XP. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group reduced 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, XP currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

XP Stock Performance

Shares of XP stock opened at $17.20 on Friday. 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 firm has a market cap of $9.24 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 0.58 and a beta of 1.10. The stock’s 50-day moving average is $16.25 and its 200-day moving average is $18.30. XP Inc. has a one year low of $14.80 and a one year high of $23.13.

XP Increases Dividend

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

XP declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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.