Xerox Holdings Co. (NYSE:XRX) Stake Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 31.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,500 shares of the information technology services provider’s stock after acquiring an additional 10,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Xerox were worth $367,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Xerox by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 560,966 shares of the information technology services provider’s stock worth $4,729,000 after purchasing an additional 15,899 shares during the last quarter. Empowered Funds LLC increased 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 valued at $5,115,000 after acquiring an additional 46,212 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of Xerox during the 4th quarter valued at approximately $97,000. Yousif Capital Management LLC lifted its stake in Xerox by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock worth $454,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Prism Advisors Inc. acquired a new position in Xerox in the fourth quarter valued at approximately $103,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Price Performance

Shares of NYSE XRX opened at $6.40 on Tuesday. The stock has a market cap of $801.80 million, a P/E ratio of -0.60 and a beta of 1.59. The firm’s 50-day simple moving average is $8.48 and its 200 day simple moving average is $9.26. Xerox Holdings Co. has a fifty-two week low of $6.34 and a fifty-two week high of $19.48. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 7.81%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is presently -4.66%.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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 assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Company Profile

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.