Xerox Holdings Co. to Issue Quarterly Dividend of $0.03 (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX - Get Free Report) declared a quarterly dividend on Thursday, May 22nd, NASDAQ Dividends reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.025 per share by the information technology services provider on Thursday, July 31st. This represents a $0.10 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, June 30th.

Xerox has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Xerox to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.3%.

Xerox Trading Up 7.0%

Xerox stock traded up $0.37 during trading hours on Tuesday, hitting $5.64. The company had a trading volume of 3,595,635 shares, compared to its average volume of 3,985,069. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a market cap of $709.46 million, a P/E ratio of -0.53 and a beta of 1.81. The company has a 50-day moving average price of $5.10 and a two-hundred day moving average price of $6.40. Xerox has a 1 year low of $3.44 and a 1 year high of $12.28.

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

Insider Transactions at Xerox

In other news, COO John G. Bruno acquired 25,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the completion of the acquisition, the chief operating officer directly owned 259,775 shares of the company's stock, valued at $1,137,814.50. The trade was a 10.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mirlanda Gecaj bought 10,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $4.41 per share, for a total transaction of $44,100.00. Following the completion of the acquisition, the chief financial officer owned 15,956 shares in the company, valued at $70,365.96. This represents a 167.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 82,300 shares of company stock worth $364,254 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xerox

A number of large investors have recently bought and sold shares of XRX. AQR Capital Management LLC increased its holdings in shares of Xerox by 71.7% in the 1st quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider's stock valued at $1,661,000 after acquiring an additional 144,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Xerox by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider's stock valued at $333,000 after purchasing an additional 2,838 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Xerox by 37.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider's stock worth $7,608,000 after purchasing an additional 431,349 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Xerox by 2.1% during the first quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider's stock valued at $2,992,000 after buying an additional 12,633 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Xerox by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider's stock valued at $2,898,000 after buying an additional 50,467 shares in the last quarter. Institutional investors own 85.36% 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.