Sei Investments Co. Has $30.97 Million Stake in XP Inc. $XP

Sei Investments Co. increased its position in XP Inc. (NASDAQ:XP) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,626,489 shares of the company’s stock after purchasing an additional 37,929 shares during the period. Sei Investments Co. owned approximately 0.30% of XP worth $30,968,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in XP by 692.8% during the first quarter. AQR Capital Management LLC now owns 217,557 shares of the company’s stock worth $2,991,000 after buying an additional 190,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of XP by 174.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,923 shares of the company’s stock valued at $100,000 after buying an additional 4,400 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of XP by 65.4% during the second 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 last quarter. Jump Financial LLC bought a new stake in shares of XP during the second quarter worth about $857,000. Finally, California Public Employees Retirement System increased its position in shares of XP by 7.2% during the second quarter. California Public Employees Retirement System now owns 723,423 shares of the company’s stock worth $14,613,000 after acquiring an additional 48,765 shares in the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.

Analyst Ratings Changes

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

XP Stock Up 0.3%

XP opened at $16.74 on Tuesday. XP Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $23.13. The firm has a market capitalization of $9.00 billion, a P/E ratio of 9.25, a PEG ratio of 0.59 and a beta of 1.10. The company’s 50-day moving average is $16.29 and its 200 day moving average is $18.30. 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 Increases Dividend

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

XP declared that its board has initiated a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is 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.