SG Americas Securities LLC Increases Stock Position in XP Inc. $XP

SG Americas Securities LLC raised its stake in shares of XP Inc. (NASDAQ:XP) by 158.9% in the first quarter, Holdings Channel.com reports. The fund owned 680,507 shares of the company’s stock after purchasing an additional 417,674 shares during the period. SG Americas Securities LLC’s holdings in XP were worth $12,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 646 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in XP in the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its position in XP by 1,783.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after purchasing an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in XP during the fourth quarter worth $55,000. Finally, Vestcor Inc acquired a new position in XP during the third quarter worth $64,000. 59.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

XP has been the subject of a number of research reports. UBS Group dropped their price objective on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, XP presently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

XP Stock Performance

NASDAQ:XP opened at $16.13 on Friday. The firm has a market capitalization of $8.67 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11. The business’s fifty day moving average price is $17.41 and its 200 day moving average price is $18.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13.

XP Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, June 10th. This is a positive change from XP’s previous annual dividend of $0.18. This represents a yield of 268.0%. XP’s dividend payout ratio (DPR) is presently 22.10%.

XP announced that its board has authorized a share repurchase program on Tuesday, May 19th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.