The Manufacturers Life Insurance Company Grows Position in Xerox Holdings Co. (NYSE:XRX)

The Manufacturers Life Insurance Company grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,666 shares of the information technology services provider’s stock after buying an additional 1,627 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Xerox worth $740,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Xerox by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after purchasing an additional 190,034 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Xerox in the first quarter worth $1,206,000. SG Capital Management LLC bought a new position in shares of Xerox during the first quarter valued at $8,466,000. Mizuho Markets Americas LLC bought a new stake in shares of Xerox in the first quarter worth approximately $1,656,000. Finally, Sound Income Strategies LLC raised its stake in Xerox by 8.7% during the 1st quarter. Sound Income Strategies LLC now owns 752,435 shares of the information technology services provider’s stock valued at $13,469,000 after buying an additional 60,446 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Stock Down 0.9 %

Shares of NYSE XRX opened at $10.17 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $12.46. Xerox Holdings Co. has a 1 year low of $9.51 and a 1 year high of $19.78. The company has a market cap of $1.26 billion, a P/E ratio of -9.69 and a beta of 1.57.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. Research analysts anticipate that Xerox Holdings Co. will post 1.79 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.83%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio is presently -95.24%.

Analysts Set New Price Targets

XRX has been the subject of a number of analyst reports. Loop Capital cut their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Citigroup assumed coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective for the company. Finally, StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.75.

Xerox 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.