PNC Financial Services Group Inc. Sells 849 Shares of Xerox Holdings Co. (NYSE:XRX)

PNC Financial Services Group Inc. trimmed its holdings in Xerox Holdings Co. (NYSE:XRXFree Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,171 shares of the information technology services provider’s stock after selling 849 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Xerox were worth $260,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Xerox during the fourth quarter valued at about $25,000. GAMMA Investing LLC bought a new position in Xerox during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC increased its stake in Xerox by 38.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 630 shares during the period. International Assets Investment Management LLC lifted its position in Xerox by 1,733.2% in the fourth quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 4,333 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted 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 purchasing an additional 8,247 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Price Performance

Shares of XRX stock opened at $14.09 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.37. The firm has a market cap of $1.75 billion, a P/E ratio of -8.97 and a beta of 1.63. The business’s 50 day moving average price is $14.91 and its 200-day moving average price is $16.31. Xerox Holdings Co. has a fifty-two week low of $12.06 and a fifty-two week high of $19.78.

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

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 7.10%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Wall Street Analyst Weigh In

Several brokerages recently commented on XRX. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 24th.

View Our Latest Analysis on XRX

Xerox Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding XRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xerox Holdings Co. (NYSE:XRXFree Report).

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.