Public Employees Retirement System of Ohio Sells 1,236,590 Shares of XP Inc. $XP

Public Employees Retirement System of Ohio reduced its holdings in shares of XP Inc. (NASDAQ:XP) by 63.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 700,371 shares of the company’s stock after selling 1,236,590 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in XP were worth $13,335,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in XP. EverSource Wealth Advisors LLC boosted its position in shares of XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after acquiring an additional 646 shares during the period. FNY Investment Advisers LLC purchased a new position in XP during the fourth quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its stake in 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 acquiring an additional 2,675 shares during the last quarter. Parallel Advisors LLC increased its position in shares of XP by 117.3% in the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of XP in the 4th quarter worth $55,000. Institutional investors own 59.15% of the company’s stock.

Analysts Set New Price Targets

XP has been the topic of several recent research reports. UBS Group reduced 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. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

XP Price Performance

Shares of NASDAQ:XP opened at $16.69 on Monday. The firm has a market capitalization of $8.97 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.59 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 $16.30 and a 200-day moving average price of $18.30. XP Inc. has a 52-week low of $14.80 and a 52-week high of $23.13.

XP announced that its Board of Directors has approved a share buyback plan on Tuesday, May 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

XP Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th were issued a $0.20 dividend. This represents a yield of 268.0%. This is a positive change from XP’s previous annual dividend of $0.18. The ex-dividend date was Wednesday, June 10th. XP’s dividend payout ratio is currently 22.10%.

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.