ABN Amro Investment Solutions Invests $596,000 in XP Inc. $XP

ABN Amro Investment Solutions purchased a new stake in shares of XP Inc. (NASDAQ:XP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 31,300 shares of the company’s stock, valued at approximately $596,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position 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 worth $33,000 after purchasing an additional 646 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of XP in the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its position in XP by 1,783.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after purchasing an additional 2,675 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in XP in the 4th quarter worth approximately $55,000. Finally, Parallel Advisors LLC raised its position in 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 purchasing an additional 1,775 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Performance

XP stock opened at $16.69 on Friday. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. The firm has a market cap of $8.97 billion, a PE ratio of 9.22, a P/E/G ratio of 0.59 and a beta of 1.10. The business’s 50-day moving average price is $16.30 and its two-hundred day moving average price is $18.29.

XP Increases Dividend

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

XP declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 19th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

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