Twin Capital Management Inc. Takes Position in XP Inc. $XP

Twin Capital Management Inc. bought a new stake in XP Inc. (NASDAQ:XP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,376 shares of the company’s stock, valued at approximately $693,000.

A number of other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in XP by 65.4% in 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 in the last quarter. FNY Investment Advisers LLC bought a new position in shares of XP during the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of XP by 1,783.3% in the 3rd 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 last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of XP in the 4th quarter worth approximately $55,000. Finally, Vestcor Inc bought a new position in shares of XP in the third quarter valued at approximately $64,000. 59.15% of the stock is owned by institutional investors.

XP Stock Performance

Shares of XP stock opened at $16.68 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 0.60 and a beta of 1.10. XP Inc. has a 52 week low of $14.80 and a 52 week high of $23.13. The firm’s 50-day simple moving average is $16.45 and its two-hundred day simple moving average is $18.29.

XP declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 19th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

XP Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on XP. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, UBS Group cut their price objective on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.