Mitsubishi UFJ Asset Management Co. Ltd. Buys 202,987 Shares of Xerox Holdings Co. (NYSE:XRX)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Xerox Holdings Co. (NYSE:XRX - Free Report) by 60.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 540,109 shares of the information technology services provider's stock after buying an additional 202,987 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.43% of Xerox worth $4,467,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of XRX. Picton Mahoney Asset Management lifted its position in Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 2,885 shares during the last quarter. KBC Group NV raised its position in Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock valued at $78,000 after purchasing an additional 4,224 shares in the last quarter. Marathon Trading Investment Management LLC bought a new stake in Xerox during the fourth quarter worth about $84,000. Xponance Inc. bought a new stake in Xerox in the 4th quarter worth approximately $87,000. Finally, Greenwich Wealth Management LLC bought a new position in Xerox during the fourth quarter valued at approximately $89,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Xerox Trading Down 4.3 %

NYSE:XRX traded down $0.18 during mid-day trading on Friday, reaching $4.00. 6,011,592 shares of the company's stock traded hands, compared to its average volume of 2,643,791. Xerox Holdings Co. has a 12-month low of $3.75 and a 12-month high of $17.75. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The company has a 50 day moving average price of $6.82 and a 200-day moving average price of $8.41. The firm has a market capitalization of $501.12 million, a price-to-earnings ratio of -0.37 and a beta of 1.56.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 12.50%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's payout ratio is presently -4.66%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Xerox from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. According to MarketBeat, Xerox presently has a consensus rating of "Reduce" and an average price target 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.