Analysts Set XP Inc. (NASDAQ:XP) PT at $22.75

Shares of XP Inc. (NASDAQ:XP) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.3333.

XP has been the subject of several research reports. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. UBS Group cut their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Finally, Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st.

XP Stock Up 2.2%

Shares of NASDAQ XP opened at $16.13 on Monday. XP has a 12 month low of $14.80 and a 12 month high of $23.13. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.50 and a beta of 1.11. The business has a 50-day moving average of $17.41 and a 200-day moving average of $18.33.

XP Increases Dividend

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

XP announced that its board has authorized a share repurchase plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of XP

A number of institutional investors have recently made changes to their positions in XP. EverSource Wealth Advisors LLC boosted its stake in shares of XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after purchasing an additional 646 shares during the period. FNY Investment Advisers LLC bought a new position in shares of XP during the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $53,000 after acquiring an additional 2,675 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of XP during the fourth quarter valued at approximately $55,000. Finally, Parallel Advisors LLC raised its holdings in shares of XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after acquiring an additional 1,775 shares in the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.

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.