Quantinno Capital Management LP Grows Holdings in XP Inc. $XP

Quantinno Capital Management LP grew its position in XP Inc. (NASDAQ:XP) by 44.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 209,252 shares of the company’s stock after acquiring an additional 64,829 shares during the period. Quantinno Capital Management LP’s holdings in XP were worth $3,984,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. ARGA Investment Management LP increased its stake in shares of XP by 4.0% in the 1st quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock valued at $394,112,000 after purchasing an additional 799,048 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 worth $200,746,000 after purchasing an additional 1,300,982 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in XP by 10.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock valued at $193,152,000 after purchasing an additional 1,160,977 shares during the period. State Street Corp grew its holdings in XP by 1.3% in the second 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 during the period. Finally, Morgan Stanley increased its position in shares of XP by 13.2% in the fourth quarter. Morgan Stanley now owns 9,524,277 shares of the company’s stock valued at $155,912,000 after buying an additional 1,113,641 shares in the last quarter. 59.15% of the stock is owned by hedge funds and other institutional investors.

XP Price Performance

NASDAQ:XP opened at $16.24 on Friday. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The stock has a market cap of $8.73 billion, a PE ratio of 8.97, a P/E/G ratio of 0.48 and a beta of 1.10. 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 stock has a 50 day moving average price of $16.23 and a 200 day moving average price of $18.27.

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 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

XP Increases Dividend

The business 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 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 dividend payout ratio is 22.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group reduced their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Zacks Research cut shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, XP has a consensus rating of “Moderate Buy” and an average target price of $23.33.

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.