Janus Henderson Group PLC Purchases New Holdings in XP Inc. $XP

Key Points

• Janus Henderson Group acquired 186,840 shares of XP Inc. in the first quarter, valued at approximately $3.56 million. Other institutional investors also increased their holdings, with institutions collectively owning 59.15% of XP’s stock.
• Analyst sentiment remains moderately positive: three analysts rate XP a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $23.33. UBS, however, lowered its target from $28 to $25.
• XP shares opened at $16.24, near their 50-day average and below the 200-day average, while the company raised its annual dividend to $0.20 per share and announced a share-repurchase program.

Janus Henderson Group PLC acquired a new position in shares of XP Inc. (NASDAQ:XP - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 186,840 shares of the company's stock, valued at approximately $3,559,000.

A number of other hedge funds have also made changes to their positions in XP. Strategic Investment Advisors MI purchased a new position in shares of XP in the first quarter valued at approximately $126,000. Amundi raised its stake 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 purchasing an additional 395,283 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 781 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 buying an additional 7,910 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of XP by 44.9% in the first quarter. Quantinno Capital Management LP now owns 209,252 shares of the company's stock valued at $3,984,000 after buying an additional 64,829 shares during the last quarter. Institutional investors and hedge funds own 59.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on XP shares. UBS Group lowered their price target on shares of XP from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings upgraded XP from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Finally, Zacks Research lowered XP from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.

XP Stock Down 2.6%

Shares of NASDAQ XP opened at $16.24 on Friday. The company has a market capitalization of $8.73 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.48 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The company has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $18.27. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13.

XP Increases Dividend

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

XP announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are 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.

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