Advisors Asset Management Inc. Increases Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Advisors Asset Management Inc. boosted its position in shares of Xerox Holdings Co. (NYSE:XRX) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 932,232 shares of the information technology services provider’s stock after acquiring an additional 135,623 shares during the period. Advisors Asset Management Inc.’s holdings in Xerox were worth $7,859,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Xerox by 33.2% during the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares in the last quarter. Geode Capital Management LLC grew its position in Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after buying an additional 62,947 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Xerox by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after acquiring an additional 92,495 shares during the last quarter. Sound Income Strategies LLC boosted its position 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 valued at $9,296,000 after acquiring an additional 69,182 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Xerox by 8.2% during the fourth 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 in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

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 issued a hold rating to the company. According to data from MarketBeat, Xerox presently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Price Performance

XRX opened at $5.76 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market capitalization of $721.62 million, a P/E ratio of -0.54 and a beta of 1.66. The stock has a 50-day moving average price of $7.89 and a 200-day moving average price of $8.90. Xerox Holdings Co. has a 12-month low of $5.62 and a 12-month high of $18.18.

Xerox Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 8.68%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s payout ratio is currently -4.66%.

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.