Tokio Marine Asset Management Co. Ltd. held its stake in shares of Xerox Corp. (NYSE:XRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,784 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Xerox Corp. were worth $273,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in XRX. JPMorgan Chase & Co. boosted its stake in Xerox Corp. by 79.0% in the first quarter. JPMorgan Chase & Co. now owns 3,015,848 shares of the company’s stock worth $33,657,000 after buying an additional 1,331,226 shares during the period. Menta Capital LLC acquired a new stake in Xerox Corp. during the first quarter worth approximately $800,000. ING Groep NV boosted its stake in Xerox Corp. by 349.3% in the first quarter. ING Groep NV now owns 52,847 shares of the company’s stock worth $589,000 after buying an additional 41,086 shares during the period. Meeder Asset Management Inc. boosted its stake in Xerox Corp. by 3.7% in the first quarter. Meeder Asset Management Inc. now owns 136,754 shares of the company’s stock worth $1,526,000 after buying an additional 4,927 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Xerox Corp. during the first quarter worth approximately $380,000. 83.90% of the stock is currently owned by institutional investors.
Shares of Xerox Corp. (NYSE:XRX) traded up 1.05% on Friday, reaching $9.65. 5,945,037 shares of the company were exchanged. Xerox Corp. has a 52-week low of $8.48 and a 52-week high of $11.39. The company has a market capitalization of $9.78 billion, a P/E ratio of 25.20 and a beta of 1.29. The stock has a 50 day moving average of $9.87 and a 200-day moving average of $9.91.
Xerox Corp. (NYSE:XRX) last announced its earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The business earned $4.40 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s revenue was down 69.8% compared to the same quarter last year. On average, analysts predict that Xerox Corp. will post $1.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.0775 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.21%. Xerox Corp.’s payout ratio is 75.61%.
A number of equities research analysts have recently commented on XRX shares. Zacks Investment Research cut Xerox Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Piper Jaffray Cos. restated an “overweight” rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Brean Capital restated a “hold” rating on shares of Xerox Corp. in a research report on Monday, August 1st. BMO Capital Markets raised their target price on Xerox Corp. from $10.00 to $10.50 and gave the company a “market perform” rating in a research report on Monday, August 1st. Finally, Barclays PLC restated an “underweight” rating and set a $11.00 target price (up from $10.00) on shares of Xerox Corp. in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Xerox Corp. has an average rating of “Hold” and a consensus price target of $11.10.
In other news, Chairman Ursula M. Burns sold 3,317 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $9.85, for a total value of $32,672.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Herve Tessler sold 13,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total transaction of $128,570.00. Following the completion of the sale, the insider now directly owns 110,319 shares of the company’s stock, valued at $1,091,054.91. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.
Xerox Corp. Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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