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

JPMorgan Chase & Co. trimmed its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 0.37% of Xerox worth $3,875,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its holdings in Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 2,885 shares during the period. KBC Group NV boosted its stake in shares of 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 during the period. Marathon Trading Investment Management LLC bought a new position in shares of Xerox in the fourth quarter worth approximately $84,000. Xponance Inc. purchased a new position in shares of Xerox in the fourth quarter worth $87,000. Finally, Greenwich Wealth Management LLC bought a new stake in Xerox during the 4th quarter valued at $89,000. Institutional investors own 85.36% of the company's stock.

Xerox Trading Down 0.6 %

NYSE:XRX traded down $0.03 during trading hours on Friday, hitting $4.14. The company had a trading volume of 546,853 shares, compared to its average volume of 2,708,532. 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 stock has a 50-day moving average price of $5.41 and a 200 day moving average price of $7.75. The company has a market capitalization of $520.08 million, a PE ratio of -0.38 and a beta of 1.56. Xerox Holdings Co. has a 52 week low of $3.45 and a 52 week high of $14.81.

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 annualized dividend and a dividend yield of 12.09%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's dividend payout ratio is currently -4.66%.

Analyst Ratings Changes

Separately, StockNews.com cut 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 assigned a hold rating to the company. According to data from MarketBeat.com, Xerox currently has an average rating of "Reduce" and a consensus target price 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.