RiverFront Investment Group LLC Purchases New Stake in Xerox Holdings Co. (NYSE:XRX)

RiverFront Investment Group LLC acquired a new position in Xerox Holdings Co. (NYSE:XRX) during the 4th quarter, HoldingsChannel reports. The fund acquired 11,234 shares of the information technology services provider’s stock, valued at approximately $95,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XRX. Empowered Funds LLC raised its holdings in shares of Xerox by 8.2% in the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock worth $5,115,000 after purchasing an additional 46,212 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Xerox by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock valued at $15,276,000 after buying an additional 92,495 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after acquiring an additional 69,182 shares during the period. Geode Capital Management LLC increased its holdings in Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares during the last quarter. Finally, Barclays PLC raised its stake in Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after acquiring an additional 167,500 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Performance

NYSE:XRX opened at $5.13 on Friday. Xerox Holdings Co. has a 52-week low of $5.07 and a 52-week high of $18.18. The business’s fifty day moving average is $7.32 and its 200 day moving average is $8.63. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a market cap of $642.69 million, a price-to-earnings ratio of -0.48 and a beta of 1.66.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.75%. Xerox’s dividend payout ratio (DPR) is currently -4.66%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, Xerox presently has an average rating of “Reduce” and a consensus target price of $9.50.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.