Norges Bank Acquires New Holdings in XP Inc. $XP

Norges Bank bought a new stake in shares of XP Inc. (NASDAQ:XP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,898,974 shares of the company’s stock, valued at approximately $80,196,000.

Several other large investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in XP by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock valued at $227,000 after buying an additional 573 shares during the period. EverSource Wealth Advisors LLC increased its stake in XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after buying an additional 646 shares during the period. California State Teachers Retirement System increased its stake in XP by 1.6% during the 3rd quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock valued at $1,017,000 after buying an additional 866 shares during the period. Aberdeen Group plc increased its stake in XP by 4.7% during the 3rd quarter. Aberdeen Group plc now owns 25,202 shares of the company’s stock valued at $474,000 after buying an additional 1,120 shares during the period. Finally, Dakota Wealth Management increased its stake in XP by 15.3% during the 4th quarter. Dakota Wealth Management now owns 13,363 shares of the company’s stock valued at $219,000 after buying an additional 1,773 shares during the period. Institutional investors and hedge funds own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

XP has been the topic of several research analyst reports. UBS Group lowered their target price on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Research cut shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, XP presently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

XP Stock Performance

Shares of XP opened at $15.34 on Friday. The firm’s 50 day moving average is $18.49 and its 200-day moving average is $18.65. The stock has a market capitalization of $8.24 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.49 and a beta of 1.11. 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 $15.24 and a 12-month high of $23.13.

XP Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend 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 is presently 9.94%.

XP declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.