XP Inc. (NASDAQ:XP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of XP Inc. (NASDAQ:XP) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.40.

A number of equities research analysts have issued reports on XP shares. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. UBS Group raised their price objective on shares of XP from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st.

Institutional Investors Weigh In On XP

A number of hedge funds and other institutional investors have recently modified their holdings of XP. AQR Capital Management LLC raised its holdings in shares of XP by 692.8% in the 1st quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock valued at $2,991,000 after purchasing an additional 190,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in XP by 174.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock worth $100,000 after acquiring an additional 4,400 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after acquiring an additional 646 shares in the last quarter. Jump Financial LLC acquired a new stake in XP during the 2nd quarter worth $857,000. Finally, California Public Employees Retirement System raised its stake in XP by 7.2% during the 2nd quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock worth $14,613,000 after acquiring an additional 48,765 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Price Performance

XP stock opened at $17.14 on Thursday. The firm has a market cap of $9.21 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. XP has a 52-week low of $15.61 and a 52-week high of $23.13. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $18.90 and its two-hundred day moving average is $18.79.

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

XP Increases Dividend

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

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.