KBC Group NV Increases Holdings in XP Inc. $XP

KBC Group NV increased its stake in XP Inc. (NASDAQ:XP) by 77.1% in the 1st quarter, HoldingsChannel reports. The fund owned 303,661 shares of the company’s stock after acquiring an additional 132,225 shares during the period. KBC Group NV’s holdings in XP were worth $5,782,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after buying an additional 646 shares during the period. FNY Investment Advisers LLC purchased a new position in XP during the 4th quarter valued at $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of XP by 1,783.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after purchasing an additional 2,675 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of XP during the fourth quarter valued at $55,000. Finally, Vestcor Inc bought a new position in shares of XP in the third quarter worth about $64,000. 59.15% of the stock is owned by institutional investors.

XP Stock Performance

Shares of XP stock opened at $16.83 on Friday. The company has a market capitalization of $9.04 billion, a PE ratio of 9.30, a P/E/G ratio of 0.61 and a beta of 1.10. The company has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $18.31. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66.

XP declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

XP Increases Dividend

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

Wall Street Analysts Forecast Growth

XP has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group dropped their price objective on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.