Xerox Holdings Co. (NYSE:XRX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 545,067 shares of the information technology services provider’s stock after selling 18,767 shares during the period. Principal Financial Group Inc. owned approximately 0.44% of Xerox worth $5,658,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. SummerHaven Investment Management LLC boosted its holdings in Xerox by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock worth $551,000 after acquiring an additional 1,110 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 1,327 shares during the last quarter. CWM LLC increased its stake in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Xerox by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock worth $668,000 after buying an additional 1,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Xerox by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock worth $740,000 after buying an additional 1,627 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on XRX. Morgan Stanley cut their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. dropped their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Loop Capital decreased their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Down 0.4 %

Shares of XRX stock opened at $8.39 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. Xerox Holdings Co. has a twelve month low of $8.02 and a twelve month high of $19.78. The stock has a 50 day moving average of $9.72 and a 200 day moving average of $11.22. The stock has a market cap of $1.04 billion, a P/E ratio of -0.76 and a beta of 1.59.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, sell-side analysts expect that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.92%. Xerox’s dividend payout ratio is presently -9.06%.

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.