Norges Bank Invests $80.20 Million in XP Inc. $XP

Norges Bank purchased a new position in XP Inc. (NASDAQ:XP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,898,974 shares of the company’s stock, valued at approximately $80,196,000. Norges Bank owned about 0.91% of XP as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of XP by 65.4% in the 2nd 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 last quarter. FNY Investment Advisers LLC bought a new position in shares of XP in the 4th quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of XP by 1,783.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after buying an additional 2,675 shares during the last quarter. Vestcor Inc bought a new position in shares of XP in the 3rd quarter worth about $64,000. Finally, Virtus Advisers LLC bought a new position in shares of XP in the 3rd quarter worth about $75,000. 59.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on XP shares. Zacks Research downgraded shares of XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. UBS Group reduced their price target on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, XP currently has an average rating of “Moderate Buy” and a consensus target price of $22.75.

XP Trading Down 1.9%

Shares of NASDAQ:XP opened at $15.34 on Friday. The company has a market cap of $8.24 billion, a PE ratio of 8.48, a P/E/G ratio of 0.49 and a beta of 1.11. The company’s 50-day moving average price is $18.49 and its 200 day moving average price is $18.65. XP Inc. has a fifty-two week low of $15.24 and a fifty-two 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.

XP Increases Dividend

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

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

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.