Xerox Holdings Co. (NYSE:XRX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 61,915 shares of the information technology services provider’s stock after selling 4,831 shares during the period. Corebridge Financial Inc.’s holdings in Xerox were worth $522,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in XRX. Victory Capital Management Inc. grew its position in Xerox by 164.8% during the fourth quarter. Victory Capital Management Inc. now owns 546,536 shares of the information technology services provider’s stock worth $4,607,000 after buying an additional 340,168 shares during the period. Vanguard Group Inc. boosted its stake in shares of Xerox by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after acquiring an additional 199,598 shares in the last quarter. Barclays PLC grew its holdings in shares of Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after acquiring an additional 167,500 shares during the period. Advisors Asset Management Inc. increased its stake in Xerox by 17.0% in the 4th quarter. Advisors Asset Management Inc. now owns 932,232 shares of the information technology services provider’s stock valued at $7,859,000 after purchasing an additional 135,623 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in Xerox by 51.8% during the fourth quarter. Quantbot Technologies LP now owns 303,353 shares of the information technology services provider’s stock worth $2,557,000 after purchasing an additional 103,580 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Trading Down 11.7 %

Shares of XRX opened at $3.64 on Wednesday. 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 1-year low of $3.55 and a 1-year high of $17.44. The stock has a market cap of $456.02 million, a price-to-earnings ratio of -0.34 and a beta of 1.56. The firm has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $8.29.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 13.74%. Xerox’s dividend payout ratio (DPR) is -4.66%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, Xerox has an average rating of “Reduce” and an average price target of $9.50.

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.