SG Americas Securities LLC lowered its holdings in shares of Xerox Corp (NYSE:XRX) by 70.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,809 shares of the information technology services provider’s stock after selling 53,561 shares during the period. SG Americas Securities LLC’s holdings in Xerox were worth $547,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Levin Capital Strategies L.P. raised its stake in Xerox by 280.6% during the 2nd quarter. Levin Capital Strategies L.P. now owns 184,592 shares of the information technology services provider’s stock valued at $4,430,000 after acquiring an additional 136,098 shares in the last quarter. Toronto Dominion Bank raised its stake in Xerox by 20.4% during the 2nd quarter. Toronto Dominion Bank now owns 139,048 shares of the information technology services provider’s stock valued at $3,337,000 after acquiring an additional 23,561 shares in the last quarter. Bank of Hawaii raised its stake in Xerox by 9.8% during the 2nd quarter. Bank of Hawaii now owns 26,152 shares of the information technology services provider’s stock valued at $628,000 after acquiring an additional 2,325 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Xerox by 12.4% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 40,879 shares of the information technology services provider’s stock valued at $981,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Xerox during the 2nd quarter valued at $926,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of XRX stock opened at $28.07 on Friday. Xerox Corp has a 1 year low of $23.52 and a 1 year high of $37.42. The firm has a market cap of $6.99 billion, a PE ratio of 8.07 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.84.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, July 26th. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Xerox had a net margin of 1.22% and a return on equity of 16.63%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. research analysts expect that Xerox Corp will post 3.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Thursday, September 27th. Xerox’s dividend payout ratio (DPR) is presently 28.74%.

XRX has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, July 27th. Zacks Investment Research cut Xerox from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine cut Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. Citigroup started coverage on Xerox in a research report on Friday, July 20th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Standpoint Research upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.90.

In related news, Chairman Keith Cozza bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average cost of $25.42 per share, for a total transaction of $1,271,000.00. Following the acquisition, the chairman now directly owns 50,000 shares of the company’s stock, valued at approximately $1,271,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Herve Tessler sold 16,567 shares of Xerox stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $26.03, for a total value of $431,239.01. Following the completion of the transaction, the insider now owns 34,647 shares in the company, valued at $901,861.41. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Xerox Company Profile

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

Further Reading: Stock Symbols and CUSIP Explained

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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