Bank of New York Mellon Corp Sells 76,365 Shares of Xerox Holdings Co. (NYSE:XRX)

Key Points

• Bank of New York Mellon Corp reduced its holdings in Xerox Holdings Co. by 8.7%, selling 76,365 shares to own approximately 804,915 shares worth $3.88 million.
• Multiple institutional investors significantly increased their stakes in Xerox in the last quarter, including Marshall Wace LLP boosting its holdings by 397.5%.
• Xerox recently announced a quarterly dividend of $0.025 per share, with a dividend yield of 1.64%, set to be paid on July 31st.

Bank of New York Mellon Corp trimmed its holdings in Xerox Holdings Co. (NYSE:XRX - Free Report) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 804,915 shares of the information technology services provider's stock after selling 76,365 shares during the period. Bank of New York Mellon Corp owned 0.64% of Xerox worth $3,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Xerox by 5.9% in the fourth quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider's stock valued at $14,382,000 after buying an additional 94,779 shares during the period. Vanguard Group Inc. raised its stake in shares of Xerox by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock valued at $132,888,000 after purchasing an additional 199,598 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Xerox by 12.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,266 shares of the information technology services provider's stock valued at $4,015,000 after purchasing an additional 52,104 shares in the last quarter. Yousif Capital Management LLC raised its position in Xerox by 5.7% in the first quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider's stock worth $275,000 after acquiring an additional 3,091 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Xerox by 103.8% in the fourth quarter. Deutsche Bank AG now owns 138,852 shares of the information technology services provider's stock worth $1,171,000 after acquiring an additional 70,724 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Trading Down 2.6%

XRX traded down $0.16 during trading on Tuesday, reaching $5.80. The company had a trading volume of 254,381 shares, compared to its average volume of 3,955,916. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox Holdings Co. has a 12-month low of $3.44 and a 12-month high of $11.45. The firm's 50-day simple moving average is $5.30 and its 200 day simple moving average is $5.94. The company has a market cap of $728.95 million, a price-to-earnings ratio of -0.54 and a beta of 1.82.

Xerox (NYSE:XRX - Get Free Report) last posted its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same period last year, the business earned $0.06 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 1.73%. Xerox's dividend payout ratio is currently -0.95%.

Insiders Place Their Bets

In other Xerox news, CEO Steven John Bandrowczak purchased 22,300 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $4.48 per share, with a total value of $99,904.00. Following the completion of the transaction, the chief executive officer directly owned 382,442 shares in the company, valued at $1,713,340.16. This trade represents a 6.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John G. Bruno purchased 25,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the purchase, the chief operating officer directly owned 259,775 shares in the company, valued at approximately $1,137,814.50. This represents a 10.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 82,300 shares of company stock worth $364,254 over the last ninety days. Company insiders own 1.50% of the company's stock.

About Xerox

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.