Principal Financial Group Inc. Grows Stock Position in Xerox Holdings Co. (NYSE:XRX)

Principal Financial Group Inc. boosted its stake in Xerox Holdings Co. (NYSE:XRX) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 576,351 shares of the information technology services provider’s stock after purchasing an additional 15,385 shares during the period. Principal Financial Group Inc. owned about 0.46% of Xerox worth $2,784,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Xerox by 5.9% in the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock worth $14,382,000 after buying an additional 94,779 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Xerox by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after acquiring an additional 199,598 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Xerox by 12.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,266 shares of the information technology services provider’s stock worth $4,015,000 after purchasing an additional 52,104 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Xerox by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after buying an additional 92,495 shares during the period. Finally, Yousif Capital Management LLC boosted its position in shares of Xerox by 5.7% in the 1st quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider’s stock worth $275,000 after purchasing an additional 3,091 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Stock Up 2.4%

NYSE:XRX opened at $5.07 on Friday. The firm has a 50-day simple moving average of $5.26 and a two-hundred day simple moving average of $6.09. Xerox Holdings Co. has a fifty-two week low of $3.45 and a fifty-two week high of $12.04. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a market cap of $637.76 million, a P/E ratio of -0.47 and a beta of 1.82.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same period in the previous year, the firm posted $0.06 earnings per share. Xerox’s revenue was down 3.0% compared to the same quarter last year. Analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, June 30th. Xerox’s dividend payout ratio (DPR) is presently -0.95%.

Insider Buying and Selling at Xerox

In related news, COO John G. Bruno bought 25,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the completion of the transaction, the chief operating officer owned 259,775 shares of the company’s stock, valued at approximately $1,137,814.50. This trade represents a 10.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven John Bandrowczak purchased 22,300 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $4.48 per share, with a total value of $99,904.00. Following the acquisition, the chief executive officer directly owned 382,442 shares of the company’s stock, valued at $1,713,340.16. This trade represents a 6.19% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 82,300 shares of company stock valued at $364,254. 1.50% of the stock is owned by corporate insiders.

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.