JPMorgan Chase & Co. Decreases Position in Xerox Holdings Co. (NYSE:XRX)

JPMorgan Chase & Co. trimmed its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 22.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,635 shares of the information technology services provider's stock after selling 135,518 shares during the period. JPMorgan Chase & Co. owned 0.37% of Xerox worth $3,875,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in shares of Xerox by 330.5% in 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 in the last quarter. KBC Group NV increased its stake in Xerox by 84.5% in 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 in the last quarter. Marathon Trading Investment Management LLC bought a new stake in Xerox during the fourth quarter valued at about $84,000. Xponance Inc. bought a new position in shares of Xerox in the fourth quarter worth about $87,000. Finally, Greenwich Wealth Management LLC bought a new position in shares of Xerox in the fourth quarter worth about $89,000. 85.36% of the stock is owned by institutional investors.

Xerox Price Performance

Shares of NYSE:XRX traded up $0.02 during mid-day trading on Thursday, reaching $4.15. The stock had a trading volume of 1,038,325 shares, compared to its average volume of 2,723,139. The company has a market cap of $521.34 million, a P/E ratio of -0.39 and a beta of 1.56. The business's 50 day moving average price is $5.49 and its 200 day moving average price is $7.79. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a 1 year low of $3.45 and a 1 year high of $14.81.

Xerox Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 12.06%. The ex-dividend date is Monday, March 31st. Xerox's dividend payout ratio (DPR) is presently -4.66%.

Analyst Ratings Changes

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

Xerox Company 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.