XP Inc. $XP Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its position in shares of XP Inc. (NASDAQ:XP) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,192,359 shares of the company’s stock after buying an additional 60,716 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.22% of XP worth $21,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in XP by 29.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company’s stock valued at $7,396,000 after purchasing an additional 104,395 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in XP by 11.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock valued at $200,746,000 after purchasing an additional 1,300,982 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in XP by 11.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 539,486 shares of the company’s stock valued at $8,831,000 after purchasing an additional 56,090 shares in the last quarter. ARGA Investment Management LP lifted its holdings in XP by 119.2% during the fourth quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock valued at $325,764,000 after purchasing an additional 10,820,050 shares in the last quarter. Finally, Wealth High Governance Capital Ltda purchased a new position in XP during the fourth quarter valued at $9,990,000. Institutional investors and hedge funds own 59.15% of the company’s stock.

XP Stock Performance

NASDAQ:XP opened at $15.34 on Monday. The company’s 50-day moving average price is $18.49 and its 200-day moving average price is $18.65. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. 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 Inc. has a twelve month low of $15.24 and a twelve month high of $23.13.

XP Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be paid a $0.20 dividend. This is an increase from XP’s previous annual dividend of $0.18. This represents a dividend yield of 115.0%. The ex-dividend date of this dividend is Wednesday, June 10th. XP’s payout ratio is 9.94%.

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 repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on XP. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, UBS Group decreased their price objective on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.75.

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.