Fisher Asset Management LLC Reduces Holdings in XP Inc. $XP

Fisher Asset Management LLC reduced its stake in shares of XP Inc. (NASDAQ:XP) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 4,377,265 shares of the company’s stock after selling 141,706 shares during the quarter. Fisher Asset Management LLC’s holdings in XP were worth $71,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in 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 buying an additional 646 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of XP in the fourth quarter worth $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of XP by 1,783.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after acquiring an additional 2,675 shares in the last quarter. Vestcor Inc acquired a new stake in shares of XP during the third quarter valued at $64,000. Finally, Virtus Advisers LLC acquired a new stake in shares of XP during the third quarter valued at $75,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of XP from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. 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 lifted their price target on shares of XP from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

XP Price Performance

XP stock opened at $16.82 on Tuesday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.54 and a beta of 1.17. The company has a quick ratio of 5.36, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. XP Inc. has a 52-week low of $15.61 and a 52-week high of $23.13. The stock’s fifty day simple moving average is $18.96 and its 200-day simple moving average is $18.81.

XP Increases Dividend

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

XP declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 19th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.