Principal Financial Group Inc. Has $5.66 Million Position in Xerox Holdings Co. (NYSE:XRX)

Principal Financial Group Inc. trimmed its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 545,067 shares of the information technology services provider’s stock after selling 18,767 shares during the quarter. Principal Financial Group Inc.’s holdings in Xerox were worth $5,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock valued at $8,269,000 after buying an additional 69,183 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after acquiring an additional 107,580 shares during the period. AQR Capital Management LLC grew its position in shares of Xerox by 75.2% in the second quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after purchasing an additional 76,886 shares during the last quarter. Royce & Associates LP increased its stake in shares of Xerox by 16.9% during the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on XRX. Morgan Stanley lowered their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Down 5.4 %

XRX stock opened at $8.43 on Thursday. Xerox Holdings Co. has a 52 week low of $8.02 and a 52 week high of $19.78. The business has a 50-day simple moving average of $8.82 and a 200 day simple moving average of $10.17. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The company has a market cap of $1.05 billion, a PE ratio of -0.76 and a beta of 1.59.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Sell-side analysts anticipate that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.86%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

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.