Principal Financial Group Inc. Raises Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Principal Financial Group Inc. raised its position in shares of Xerox Holdings Co. (NYSE:XRX) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 560,966 shares of the information technology services provider’s stock after buying an additional 15,899 shares during the period. Principal Financial Group Inc. owned about 0.45% of Xerox worth $4,729,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Pacer Advisors Inc. raised its holdings in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after purchasing an additional 4,228,806 shares in the last quarter. Barclays PLC lifted its position in Xerox by 55.5% during the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after buying an additional 167,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Xerox during the third quarter worth about $1,626,000. Charles Schwab Investment Management Inc. increased its position in Xerox by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after buying an additional 107,580 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Xerox by 16.9% during the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock valued at $7,704,000 after buying an additional 107,127 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Xerox Price Performance

XRX opened at $6.40 on Tuesday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox Holdings Co. has a 52-week low of $6.34 and a 52-week high of $19.48. The stock has a market capitalization of $801.80 million, a P/E ratio of -0.60 and a beta of 1.59. The company’s 50-day simple moving average is $8.48 and its two-hundred day simple moving average is $9.26.

Xerox Cuts Dividend

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

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.