Prudential Financial Inc. decreased its stake in Xerox Corp. (NYSE:XRX) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,248,873 shares of the company’s stock after selling 44,492 shares during the period. Prudential Financial Inc. owned about 0.32% of Xerox Corp. worth $30,832,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Xerox Corp. by 1.0% in the first quarter. Legal & General Group Plc now owns 5,206,164 shares of the company’s stock valued at $58,105,000 after buying an additional 54,068 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Xerox Corp. by 2.4% in the first quarter. Geode Capital Management LLC now owns 9,516,399 shares of the company’s stock valued at $106,030,000 after buying an additional 219,384 shares during the last quarter. TLP Group LLC boosted its stake in shares of Xerox Corp. by 2,520.2% in the second quarter. TLP Group LLC now owns 62,884 shares of the company’s stock valued at $597,000 after buying an additional 60,484 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Xerox Corp. by 4.7% in the first quarter. Panagora Asset Management Inc. now owns 8,273,775 shares of the company’s stock valued at $92,335,000 after buying an additional 371,056 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of Xerox Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 816,977 shares of the company’s stock valued at $7,753,000 after buying an additional 9,927 shares during the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

Xerox Corp. (NYSE:XRX) traded up 1.12% during midday trading on Wednesday, hitting $9.92. The company had a trading volume of 1,446,311 shares. Xerox Corp. has a 52-week low of $8.48 and a 52-week high of $11.39. The stock has a 50 day moving average of $9.81 and a 200 day moving average of $9.98. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 25.90 and a beta of 1.36.

Xerox Corp. (NYSE:XRX) last released its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. The firm earned $4.40 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the business posted $0.22 EPS. Xerox Corp.’s quarterly revenue was down 69.8% on a year-over-year basis. On average, analysts anticipate that Xerox Corp. will post $1.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.0775 dividend. This represents a $0.31 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, September 28th. Xerox Corp.’s payout ratio is currently 75.61%.

A number of research firms have weighed in on XRX. SunTrust Banks Inc. began coverage on Xerox Corp. in a research note on Tuesday, September 13th. They set a “buy” rating and a $13.00 price objective on the stock. Piper Jaffray Cos. reissued an “overweight” rating on shares of Xerox Corp. in a research note on Saturday, July 2nd. Brean Capital reissued a “hold” rating on shares of Xerox Corp. in a research note on Monday, August 1st. Zacks Investment Research lowered Xerox Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Barclays PLC reissued an “underweight” rating and set a $11.00 price objective (up previously from $10.00) on shares of Xerox Corp. in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.05.

In other Xerox Corp. news, insider Herve Tessler sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total transaction of $128,570.00. Following the completion of the transaction, the insider now owns 110,319 shares of the company’s stock, valued at $1,091,054.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ursula M. Burns sold 3,317 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $9.85, for a total value of $32,672.45. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

About Xerox Corp.

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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