Prudential Financial Inc. Sells 199,371 Shares of Xerox Holdings Co. (NYSE:XRX)

Prudential Financial Inc. reduced its holdings in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 62.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,765 shares of the information technology services provider's stock after selling 199,371 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of Xerox worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Picton Mahoney Asset Management boosted 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 worth $31,000 after purchasing an additional 2,885 shares during the period. KBC Group NV boosted its holdings in shares of Xerox by 84.5% during the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock worth $78,000 after buying an additional 4,224 shares during the period. Marathon Trading Investment Management LLC acquired a new position in Xerox in the 4th quarter valued at about $84,000. Xponance Inc. bought a new position in Xerox in the 4th quarter valued at about $87,000. Finally, Greenwich Wealth Management LLC bought a new position in Xerox in the 4th quarter valued at about $89,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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 assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $9.50.

Xerox Stock Performance

Xerox stock traded up $0.09 during midday trading on Friday, hitting $3.96. The company's stock had a trading volume of 5,046,749 shares, compared to its average volume of 2,723,082. The company has a 50-day moving average price of $6.15 and a two-hundred day moving average price of $8.13. Xerox Holdings Co. has a 1-year low of $3.45 and a 1-year high of $17.18. The company has a market cap of $496.11 million, a price-to-earnings ratio of -0.37 and a beta of 1.56. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 12.63%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's dividend payout ratio is currently -4.66%.

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.