Stifel Financial Corp Reduces Stake in Xerox Holdings Co. (NYSE:XRX)

Stifel Financial Corp cut its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 80.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,169 shares of the information technology services provider's stock after selling 122,211 shares during the period. Stifel Financial Corp's holdings in Xerox were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of XRX. Picton Mahoney Asset Management increased its holdings 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 valued at $31,000 after purchasing an additional 2,885 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in shares of Xerox in the fourth quarter worth about $51,000. KBC Group NV boosted its stake in shares of Xerox by 84.5% in the fourth 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 last quarter. Marathon Trading Investment Management LLC purchased a new stake in shares of Xerox in the fourth quarter worth about $84,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Xerox by 48.9% in the fourth quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider's stock worth $85,000 after buying an additional 3,319 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Price Performance

XRX stock traded down $0.19 during mid-day trading on Monday, reaching $5.36. 989,537 shares of the company's stock were exchanged, compared to its average volume of 2,870,605. The company has a market cap of $673.61 million, a price-to-earnings ratio of -0.50 and a beta of 1.75. The stock's 50 day moving average is $4.82 and its 200 day moving average is $7.17. 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 Holdings Co. has a 12-month low of $3.45 and a 12-month high of $14.81.

Xerox (NYSE:XRX - Get Free Report) last released 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 negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, research analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.125 per share. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.34%. Xerox's dividend payout ratio (DPR) is -4.74%.

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 analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to data from MarketBeat, Xerox has a consensus rating of "Reduce" and a consensus 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.