186,840 Shares in XP Inc. $XP Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC bought a new stake in XP Inc. (NASDAQ:XP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 186,840 shares of the company’s stock, valued at approximately $3,559,000.

Several other hedge funds and other institutional investors have also modified their holdings of XP. Strategic Investment Advisors MI acquired a new stake in shares of XP in the first quarter valued at $126,000. Amundi grew its position in XP by 51.9% in the 1st quarter. Amundi now owns 1,157,087 shares of the company’s stock valued at $22,031,000 after acquiring an additional 395,283 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in XP by 46.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock worth $47,000 after purchasing an additional 781 shares during the period. The Manufacturers Life Insurance Company increased its stake in XP by 9.3% during the first quarter. The Manufacturers Life Insurance Company now owns 93,315 shares of the company’s stock worth $1,777,000 after purchasing an additional 7,910 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of XP by 44.9% during the first quarter. Quantinno Capital Management LP now owns 209,252 shares of the company’s stock worth $3,984,000 after purchasing an additional 64,829 shares in the last quarter. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

XP Stock Performance

Shares of XP stock opened at $16.24 on Friday. The business has a 50-day simple moving average of $16.23 and a 200-day simple moving average of $18.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The company has a market cap of $8.73 billion, a PE ratio of 8.97, a P/E/G ratio of 0.48 and a beta of 1.10.

XP Increases Dividend

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

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