XP Inc. (NASDAQ:XP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of XP Inc. (NASDAQ:XP) have been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $23.40.

XP has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of XP from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday.

XP Stock Performance

NASDAQ:XP opened at $17.14 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.55 and a beta of 1.17. The company’s 50-day moving average is $18.90 and its two-hundred day moving average is $18.79. XP has a 1-year low of $15.61 and a 1-year high of $23.13.

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

XP Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, June 10th. This represents a dividend yield of 115.0%. This is an increase from XP’s previous annual dividend of $0.18. XP’s dividend payout ratio (DPR) is currently 9.94%.

Institutional Investors Weigh In On XP

A number of hedge funds have recently added to or reduced their stakes in XP. EverSource Wealth Advisors LLC lifted its holdings in XP by 65.4% during 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 in the last quarter. FNY Investment Advisers LLC acquired a new stake in XP during the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in XP by 1,783.3% during 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in XP during the 4th quarter worth approximately $55,000. Finally, Parallel Advisors LLC lifted its holdings in XP by 117.3% during the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after buying an additional 1,775 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

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.