Zurich Insurance Group Ltd FI cut its holdings in Xerox Corporation (NYSE:XRX) by 54.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,864 shares of the information technology services provider’s stock after selling 101,536 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Xerox Corporation were worth $2,409,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Advantus Capital Management Inc increased its stake 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 buying an additional 880 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in 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 acquiring an additional 1,203 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in 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 acquiring an additional 1,512 shares during the last quarter. United Asset Strategies Inc. boosted its holdings in Xerox Corporation by 14.2% in the second quarter. United Asset Strategies Inc. now owns 16,611 shares of the information technology services provider’s stock valued at $477,000 after acquiring an additional 2,061 shares during the last quarter. Finally, Financial Advisors Network Inc. boosted its holdings in Xerox Corporation by 4.8% in the first quarter. Financial Advisors Network Inc. now owns 46,827 shares of the information technology services provider’s stock valued at $331,000 after acquiring an additional 2,136 shares during the last quarter. Institutional investors own 84.13% of the company’s stock.

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Xerox Corporation (XRX) opened at 33.03 on Friday. The company has a 50-day moving average price of $32.54 and a 200 day moving average price of $29.90. The company’s market cap is $8.40 billion. Xerox Corporation has a 12-month low of $22.90 and a 12-month high of $34.13.

Xerox Corporation (NYSE:XRX) last issued its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts forecast that Xerox Corporation will post $3.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.03%. 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. Xerox Corporation’s dividend payout ratio is presently 48.31%.

Several equities analysts recently issued reports on the company. Zacks Investment Research cut Xerox Corporation from a “hold” rating to a “sell” rating in a report on Thursday. UBS AG assumed coverage on Xerox Corporation in a report on Tuesday. They issued a “neutral” rating and a $36.00 price target on the stock. Barclays PLC reiterated an “equal weight” rating and issued a $35.00 price target (up previously from $33.00) on shares of Xerox Corporation in a report on Tuesday, September 12th. ValuEngine upgraded Xerox Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Xerox Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Xerox Corporation has an average rating of “Buy” and a consensus price target of $35.67.

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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