Sei Investments Co. Acquires 37,929 Shares of XP Inc. $XP

Sei Investments Co. grew its holdings in shares of XP Inc. (NASDAQ:XP) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,626,489 shares of the company’s stock after purchasing an additional 37,929 shares during the quarter. Sei Investments Co.’s holdings in XP were worth $30,968,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in 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 period. FNY Investment Advisers LLC bought a new position in shares of XP during the 4th quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 valued at $53,000 after acquiring an additional 2,675 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of XP during the 4th quarter worth approximately $55,000. Finally, Parallel Advisors LLC raised its holdings in shares of 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 period. 59.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on XP shares. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group cut their price target on XP from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have given 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 Performance

NASDAQ XP opened at $16.74 on Tuesday. The firm has a market cap of $9.00 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $16.29 and its 200-day moving average is $18.30. XP Inc. has a 12-month low of $14.80 and a 12-month high of $23.13.

XP Increases Dividend

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

XP announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors 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.