CANADA LIFE ASSURANCE Co Cuts Stake in Xerox Holdings Co. (NYSE:XRX)

CANADA LIFE ASSURANCE Co reduced its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,653 shares of the information technology services provider’s stock after selling 8,759 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.14% of Xerox worth $1,472,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in XRX. Vanguard Group Inc. increased its position in shares of Xerox by 1.3% in the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Xerox by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after purchasing an additional 92,495 shares during the period. Invesco Ltd. lifted its stake in shares of Xerox by 5.9% in the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock worth $14,382,000 after acquiring an additional 94,779 shares during the period. Marshall Wace LLP lifted its stake in shares of Xerox by 397.5% in the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock worth $11,618,000 after acquiring an additional 1,101,171 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Xerox by 6.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after acquiring an additional 69,182 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

Shares of NYSE:XRX opened at $4.39 on Tuesday. The business’s fifty day moving average price is $5.26 and its two-hundred day moving average price is $7.63. The stock has a market cap of $552.15 million, a PE ratio of -0.41 and a beta of 1.56. 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 one year low of $3.45 and a one year high of $14.81.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 11.39%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is presently -4.66%.

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.