Brave Asset Management Inc. Acquires 7,000 Shares of Xerox Holdings Co. (NYSE:XRX)

Brave Asset Management Inc. grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 50.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,900 shares of the information technology services provider’s stock after buying an additional 7,000 shares during the period. Brave Asset Management Inc.’s holdings in Xerox were worth $383,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Xerox by 20.2% in the 1st quarter. JPMorgan Chase & Co. now owns 560,997 shares of the information technology services provider’s stock worth $11,315,000 after purchasing an additional 94,090 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Xerox in the 1st quarter worth $604,000. American Century Companies Inc. lifted its holdings in shares of Xerox by 14.5% in the 1st quarter. American Century Companies Inc. now owns 28,887 shares of the information technology services provider’s stock worth $582,000 after purchasing an additional 3,654 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Xerox by 24.4% in the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock worth $167,000 after purchasing an additional 1,615 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Xerox by 12.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,121 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 1,807 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on XRX. JPMorgan Chase & Co. increased their target price on Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd.

Xerox Stock Up 0.8 %

NYSE XRX traded up $0.15 on Thursday, reaching $17.90. The company had a trading volume of 2,270,915 shares, compared to its average volume of 2,324,677. The stock has a market capitalization of $2.22 billion, a P/E ratio of -89.50 and a beta of 1.57. The company’s fifty day moving average is $17.91 and its 200 day moving average is $16.18. Xerox Holdings Co. has a 52-week low of $12.06 and a 52-week high of $19.78. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06.

Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, January 25th. The information technology services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Xerox had a net margin of 0.01% and a return on equity of 9.41%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Sell-side analysts anticipate that Xerox Holdings Co. will post 2.27 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio is presently -500.00%.

About Xerox

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.