Dai Ichi Life Insurance Company Ltd reduced its position in shares of Xerox Corporation (NYSE:XRX) by 80.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,053 shares of the information technology services provider’s stock after selling 28,775 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Xerox Corporation were worth $203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cleararc Capital Inc. raised its position in shares of Xerox Corporation by 1.0% in the first quarter. Cleararc Capital Inc. now owns 20,881 shares of the information technology services provider’s stock valued at $153,000 after purchasing an additional 207 shares during the period. Advantus Capital Management Inc raised its position in shares of Xerox Corporation by 1.0% in the first quarter. Advantus Capital Management Inc now owns 85,826 shares of the information technology services provider’s stock valued at $630,000 after purchasing an additional 880 shares during the period. Arizona State Retirement System raised its position in shares of Xerox Corporation by 0.4% in the first quarter. Arizona State Retirement System now owns 283,128 shares of the information technology services provider’s stock valued at $2,078,000 after purchasing an additional 1,100 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Xerox Corporation by 0.9% in the first quarter. Mutual of America Capital Management LLC now owns 142,437 shares of the information technology services provider’s stock valued at $1,045,000 after purchasing an additional 1,203 shares during the period. Finally, Mason Street Advisors LLC raised its position in shares of Xerox Corporation by 1.3% in the first quarter. Mason Street Advisors LLC now owns 118,005 shares of the information technology services provider’s stock valued at $866,000 after purchasing an additional 1,512 shares during the period. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Xerox Corporation (NYSE:XRX) opened at 32.29 on Tuesday. The firm’s 50-day moving average is $32.11 and its 200-day moving average is $29.56. The firm’s market capitalization is $8.21 billion. Xerox Corporation has a 52 week low of $22.90 and a 52 week high of $32.99.

Xerox Corporation (NYSE:XRX) last announced its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. Equities analysts anticipate that Xerox Corporation will post $3.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 annualized dividend and a dividend yield of 3.10%. Xerox Corporation’s dividend payout ratio is currently 12.08%.

XRX has been the topic of a number of recent research reports. ValuEngine raised shares of Xerox Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 price target on shares of Xerox Corporation in a research report on Saturday, June 3rd. BidaskClub raised shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Barclays PLC reaffirmed a “sell” rating and set a $27.00 price target on shares of Xerox Corporation in a research report on Friday, June 23rd. Finally, Zacks Investment Research lowered shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Xerox Corporation has an average rating of “Buy” and a consensus target price of $35.63.

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Xerox Corporation Profile

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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