Squadra Investments Gestao DE Recursos LTDA. Sells 884,234 Shares of XP Inc. $XP

Squadra Investments Gestao DE Recursos LTDA. reduced its stake in shares of XP Inc. (NASDAQ:XP) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,909,501 shares of the company’s stock after selling 884,234 shares during the quarter. XP accounts for 8.3% of Squadra Investments Gestao DE Recursos LTDA.’s holdings, making the stock its 4th biggest holding. Squadra Investments Gestao DE Recursos LTDA.’s holdings in XP were worth $74,437,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of XP. ARGA Investment Management LP raised 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 purchasing an additional 799,048 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 buying an additional 1,300,982 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in XP by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock valued at $193,152,000 after buying an additional 1,160,977 shares during the period. State Street Corp increased its holdings in XP by 1.3% in the 2nd quarter. State Street Corp now owns 9,696,864 shares of the company’s stock valued at $195,877,000 after buying an additional 125,818 shares during the period. Finally, Morgan Stanley raised its position in shares of XP by 13.2% in the 4th 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. Institutional investors own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

XP has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research cut shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. 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 research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

XP Stock Up 0.3%

Shares of NASDAQ XP opened at $16.74 on Tuesday. 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 $9.00 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 0.59 and a beta of 1.10. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13. The stock has a 50-day moving average price of $16.29 and a two-hundred day moving average price of $18.30.

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 dividend of $0.20 per share. 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%.

XP declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 19th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About XP

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.