SEB Asset Management AB Makes New Investment in XP Inc. $XP

SEB Asset Management AB bought a new position in XP Inc. (NASDAQ:XP) in the 1st quarter, Holdings Channel.com reports. The fund bought 112,009 shares of the company’s stock, valued at approximately $2,133,000.

Several other large investors have also modified their holdings of XP. ARGA Investment Management LP grew its stake in XP by 4.0% in the first quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock worth $394,112,000 after purchasing an additional 799,048 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in XP by 11.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company’s stock valued at $200,746,000 after buying an additional 1,300,982 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in XP by 10.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock valued at $193,152,000 after buying an additional 1,160,977 shares in the last quarter. State Street Corp lifted its holdings in XP by 1.3% during the 2nd quarter. State Street Corp now owns 9,696,864 shares of the company’s stock worth $195,877,000 after buying an additional 125,818 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in XP by 13.2% during the 4th quarter. Morgan Stanley now owns 9,524,277 shares of the company’s stock worth $155,912,000 after buying an additional 1,113,641 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.

Analysts Set New Price Targets

XP has been the subject of several research reports. UBS Group decreased their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

XP Price Performance

XP opened at $16.83 on Friday. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.61 and a beta of 1.10. XP Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $23.13. The company’s 50-day moving average price is $16.32 and its 200 day moving average price is $18.31. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02.

XP Increases Dividend

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

XP declared that its board has initiated a share buyback 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. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.