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

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

Several equities research analysts have issued reports on XP shares. UBS Group dropped their price objective on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st.

XP Price Performance

XP stock opened at $16.13 on Monday. 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 has a 52-week low of $14.80 and a 52-week high of $23.13. The stock’s 50 day moving average is $17.41 and its two-hundred day moving average is $18.33. The company has a market capitalization of $8.67 billion, a PE ratio of 8.91, a P/E/G ratio of 0.51 and a beta of 1.11.

XP Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th were given a $0.20 dividend. 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 22.10%.

XP declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 19th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after acquiring an additional 1,775 shares in the last quarter. Oaktree Fund Advisors LLC grew its position in shares of XP by 6.7% in the 1st quarter. Oaktree Fund Advisors LLC now owns 199,519 shares of the company’s stock worth $3,799,000 after acquiring an additional 12,445 shares in the last quarter. Bank of America Corp DE grew its position in shares of XP by 33.4% in the 1st quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock worth $98,004,000 after acquiring an additional 1,289,393 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of XP in the 1st quarter worth approximately $3,559,000. Finally, Strategic Investment Advisors MI acquired a new position in shares of XP in the 1st quarter worth approximately $126,000. Institutional investors and hedge funds own 59.15% of the company’s stock.

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.