Xerox Holdings Co. (NYSE:XRX) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in Xerox Holdings Co. (NYSE:XRX) by 62.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 118,765 shares of the information technology services provider’s stock after selling 199,371 shares during the quarter. Prudential Financial Inc.’s holdings in Xerox were worth $1,001,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Xerox by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock valued at $132,888,000 after acquiring an additional 199,598 shares during the period. LPL Financial LLC lifted its stake in shares of Xerox by 13.0% in the fourth quarter. LPL Financial LLC now owns 77,064 shares of the information technology services provider’s stock valued at $650,000 after purchasing an additional 8,837 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Xerox during the fourth quarter worth about $440,000. AXQ Capital LP acquired a new position in Xerox during the fourth quarter worth about $163,000. Finally, Virtu Financial LLC purchased a new position in Xerox in the fourth quarter valued at about $272,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Performance

Shares of XRX opened at $4.00 on Monday. Xerox Holdings Co. has a 12-month low of $3.75 and a 12-month high of $17.75. The stock has a market cap of $501.12 million, a P/E ratio of -0.37 and a beta of 1.56. 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 company has a 50-day moving average of $6.82 and a two-hundred day moving average of $8.41.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 12.50%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s payout ratio is currently -4.66%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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’s stock. According to data from MarketBeat.com, Xerox has a consensus rating of “Reduce” and an average price target of $9.50.

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.