KBC Group NV Increases Stock Position in XP Inc. $XP

Key Points

• KBC Group NV boosted its stake in XP Inc. by 77.1% in the first quarter, buying an additional 132,225 shares and bringing its total holdings to 303,661 shares worth about $5.78 million.
• XP has continued to attract institutional interest, with several other funds initiating new positions and institutional ownership now at 59.15% of the company.
• Analysts currently have a Moderate Buy consensus on XP, with a target price of $23.33, while the stock recently traded down to $16.83 and the company also raised its annual dividend from $0.18 to $0.20.

KBC Group NV increased its holdings in shares of XP Inc. (NASDAQ:XP - Free Report) by 77.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,661 shares of the company's stock after purchasing an additional 132,225 shares during the quarter. KBC Group NV owned 0.06% of XP worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. SEB Asset Management AB bought a new stake in shares of XP in the first quarter worth approximately $2,133,000. Assetmark Inc. bought a new stake in XP in the 1st quarter worth approximately $6,234,000. Barings LLC purchased a new stake in XP during the 1st quarter valued at $3,821,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of XP during the 1st quarter valued at $15,184,000. Finally, Twin Capital Management Inc. bought a new position in XP in the first quarter valued at about $693,000. Institutional investors own 59.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on XP shares. Weiss Ratings upgraded shares of XP from a "hold (c)" rating to a "hold (c+)" rating in a research 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 decreased their price objective on XP from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

XP Stock Down 2.7%

Shares of XP opened at $16.83 on Friday. The business's 50 day moving average is $16.32 and its 200 day moving average is $18.31. The company has a market capitalization of $9.04 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.61 and a beta of 1.10. XP Inc. has a 12-month low of $14.80 and a 12-month 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.

XP Increases Dividend

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

XP announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board 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.

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