Legal & General Group Plc Increases Position in XP Inc. $XP

Legal & General Group Plc boosted its holdings in XP Inc. (NASDAQ:XP) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,760,141 shares of the company’s stock after purchasing an additional 228,242 shares during the quarter. Legal & General Group Plc owned about 0.51% of XP worth $45,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in XP by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock worth $227,000 after purchasing an additional 573 shares during the period. Summit Global Investments grew its holdings in XP by 5.8% in the third quarter. Summit Global Investments now owns 11,624 shares of the company’s stock worth $218,000 after purchasing an additional 636 shares during the period. EverSource Wealth Advisors LLC grew its holdings in XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock worth $33,000 after purchasing an additional 646 shares during the period. California State Teachers Retirement System grew its holdings in XP by 1.6% in the third quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock worth $1,017,000 after purchasing an additional 866 shares during the period. Finally, Aberdeen Group plc grew its holdings in XP by 4.7% in the third quarter. Aberdeen Group plc now owns 25,202 shares of the company’s stock worth $474,000 after purchasing an additional 1,120 shares during the period. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Trading Down 1.7%

NASDAQ:XP opened at $16.67 on Friday. The company’s 50 day moving average price is $18.82 and its 200-day moving average price is $18.76. XP Inc. 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 stock has a market cap of $8.96 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.53 and a beta of 1.17.

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

XP Increases Dividend

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

Analysts Set New Price Targets

XP has been the topic of a number of recent research reports. Zacks Research cut shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, UBS Group upped their price objective 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, XP has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.