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

Principal Financial Group Inc. trimmed its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 0.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 657,511 shares of the information technology services provider’s stock after selling 1,710 shares during the quarter. Principal Financial Group Inc.’s holdings in Xerox were worth $12,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in Xerox during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new position in Xerox during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its position in Xerox by 38.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 630 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Xerox by 1,733.2% in the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after buying an additional 4,333 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. increased its stake in shares of Xerox by 5,572.3% during the third quarter. C M Bidwell & Associates Ltd. now owns 8,395 shares of the information technology services provider’s stock valued at $132,000 after buying an additional 8,247 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

XRX has been the topic of several research analyst reports. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reduced their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th.

Xerox Price Performance

XRX opened at $13.86 on Friday. The stock has a market capitalization of $1.72 billion, a PE ratio of -8.83 and a beta of 1.61. The stock’s 50 day moving average price is $15.52 and its 200-day moving average price is $16.31. Xerox Holdings Co. has a 52-week low of $12.06 and a 52-week high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.37.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29). The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. Xerox’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities research analysts predict that Xerox Holdings Co. will post 2.09 EPS for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 7.22%. Xerox’s payout ratio is -63.69%.

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.