RiverFront Investment Group LLC Invests $95,000 in Xerox Holdings Co. (NYSE:XRX)

RiverFront Investment Group LLC bought a new stake in Xerox Holdings Co. (NYSE:XRX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,234 shares of the information technology services provider’s stock, valued at approximately $95,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position in shares of Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,885 shares during the period. KBC Group NV increased its stake in Xerox by 84.5% during the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 4,224 shares in the last quarter. Marathon Trading Investment Management LLC acquired a new position in Xerox during the fourth quarter worth $84,000. Xponance Inc. bought a new position in shares of Xerox in the fourth quarter valued at $87,000. Finally, Greenwich Wealth Management LLC acquired a new position in shares of Xerox during the fourth quarter valued at about $89,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Price Performance

Shares of NYSE:XRX opened at $5.13 on Friday. Xerox Holdings Co. has a 1-year low of $5.07 and a 1-year high of $18.18. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market cap of $642.69 million, a PE ratio of -0.48 and a beta of 1.66. The stock’s fifty day simple moving average is $7.32 and its two-hundred day simple moving average is $8.63.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 9.75%. The ex-dividend date is Monday, March 31st. Xerox’s payout ratio is -4.66%.

Wall Street Analysts Forecast Growth

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

Xerox Profile

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.