Xerox Holdings Co. (NYSE:XRX) Stake Boosted by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 17.0% during the 4th quarter, according to its most recent filing with the SEC. 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. owned approximately 0.75% of Xerox worth $7,859,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Xerox by 10.0% during the third quarter. Victory Capital Management Inc. now owns 206,368 shares of the information technology services provider's stock valued at $2,142,000 after acquiring an additional 18,819 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Xerox in the third quarter valued at about $1,626,000. Intech Investment Management LLC acquired a new stake in Xerox during the 3rd quarter valued at approximately $498,000. Pacer Advisors Inc. increased its holdings in 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 worth $176,140,000 after purchasing an additional 4,228,806 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Xerox by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider's stock valued at $17,850,000 after purchasing an additional 107,580 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

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Xerox Stock Down 2.3 %

NYSE XRX traded down $0.13 on Friday, hitting $5.51. 34,290,683 shares of the stock traded hands, compared to its average volume of 2,437,377. 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 50-day moving average of $7.69 and a 200 day moving average of $8.80. Xerox Holdings Co. has a twelve month low of $5.48 and a twelve month high of $18.18. The company has a market capitalization of $690.30 million, a P/E ratio of -0.51 and a beta of 1.66.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 9.07%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's dividend payout ratio (DPR) is presently -4.66%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Xerox from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Xerox has a consensus rating of "Reduce" and a consensus target price of $9.50.

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.