Legal & General Group Plc lowered its position in Xerox Corporation (NYSE:XRX) by 73.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,441,226 shares of the information technology services provider’s stock after selling 4,046,285 shares during the period. Legal & General Group Plc owned 0.57% of Xerox Corporation worth $41,412,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Xerox Corporation by 1,831.5% in the first quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock worth $510,230,000 after buying an additional 65,914,755 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Xerox Corporation by 758.2% in the first quarter. Ameriprise Financial Inc. now owns 7,912,787 shares of the information technology services provider’s stock valued at $58,084,000 after buying an additional 6,990,756 shares in the last quarter. KBC Group NV increased its position in shares of Xerox Corporation by 163.4% in the first quarter. KBC Group NV now owns 6,901,550 shares of the information technology services provider’s stock valued at $50,658,000 after buying an additional 4,281,339 shares in the last quarter. Gotham Asset Management LLC increased its position in shares of Xerox Corporation by 2,304.7% in the first quarter. Gotham Asset Management LLC now owns 3,606,346 shares of the information technology services provider’s stock valued at $26,471,000 after buying an additional 3,456,374 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Xerox Corporation by 25.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,726,444 shares of the information technology services provider’s stock valued at $122,775,000 after buying an additional 3,341,049 shares in the last quarter. 83.91% of the stock is owned by institutional investors.

Xerox Corporation (XRX) opened at 32.24 on Wednesday. Xerox Corporation has a 52 week low of $24.86 and a 52 week high of $32.99. The firm has a 50 day moving average of $30.93 and a 200-day moving average of $29.26. The company’s market capitalization is $8.19 billion.

Xerox Corporation (NYSE:XRX) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $0.26 EPS. Xerox Corporation’s revenue was down 8.1% on a year-over-year basis. On average, analysts forecast that Xerox Corporation will post $3.36 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 annualized dividend and a dividend yield of 3.10%. Xerox Corporation’s payout ratio is currently 12.08%.

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Several brokerages recently issued reports on XRX. Credit Suisse Group lifted their price target on shares of Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Loop Capital reissued a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Xerox Corporation in a report on Wednesday, August 2nd. Citigroup Inc. set a $39.00 price target on shares of Xerox Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub raised shares of Xerox Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Xerox Corporation has an average rating of “Buy” and an average price target of $37.23.

About Xerox Corporation

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

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Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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