XP (NASDAQ:XP) Trading Down 4.9% – Here’s What Happened

XP Inc. (NASDAQ:XP) shares were down 4.9% during mid-day trading on Friday . The stock traded as low as $17.04 and last traded at $17.0450. Approximately 2,627,393 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 6,241,395 shares. The stock had previously closed at $17.92.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on XP shares. Weiss Ratings lowered XP from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. UBS Group lifted their price target on XP from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, XP presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

XP Stock Performance

The firm has a market capitalization of $9.04 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.54 and a beta of 1.17. The company has a current ratio of 6.66, a quick ratio of 5.36 and a debt-to-equity ratio of 0.02. The business’s 50 day simple moving average is $18.98 and its two-hundred day simple moving average is $18.81.

XP Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, June 10th. This represents a yield of 115.0%. This is a boost from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio (DPR) is presently 22.10%.

XP announced that its board has approved a stock buyback plan on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On XP

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of XP by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock valued at $227,000 after purchasing an additional 573 shares during the last quarter. Summit Global Investments increased its position in shares of XP by 5.8% during the 3rd quarter. Summit Global Investments now owns 11,624 shares of the company’s stock valued at $218,000 after purchasing an additional 636 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 646 shares during the last quarter. SummitTX Capital L.P. increased its position in shares of XP by 2.8% during the 4th quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock valued at $507,000 after purchasing an additional 857 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of XP by 1.6% during the 3rd quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock valued at $1,017,000 after purchasing an additional 866 shares during the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Company 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.