CNA Financial Corp Acquires 20,833 Shares of Xerox Corp (NYSE:XRX)

CNA Financial Corp increased its holdings in Xerox Corp (NYSE:XRX) by 41.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,597 shares of the information technology services provider’s stock after purchasing an additional 20,833 shares during the quarter. CNA Financial Corp’s holdings in Xerox were worth $2,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of XRX. Gradient Investments LLC raised its holdings in shares of Xerox by 751.0% in the 2nd quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 736 shares during the last quarter. Coastal Investment Advisors Inc. acquired a new stake in shares of Xerox in the 2nd quarter worth about $32,000. CWM LLC raised its holdings in shares of Xerox by 57.9% in the 2nd quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 360 shares during the last quarter. NuWave Investment Management LLC raised its holdings in shares of Xerox by 422.1% in the 2nd quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock worth $43,000 after acquiring an additional 992 shares during the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Xerox in the 3rd quarter worth about $37,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Herve Tessler sold 32,200 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the completion of the transaction, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at approximately $368,520.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Several equities research analysts have commented on XRX shares. JPMorgan Chase & Co. upgraded shares of Xerox from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $31.00 to $38.00 in a research note on Tuesday. Credit Suisse Group increased their price objective on shares of Xerox from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. ValuEngine lowered shares of Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research note on Sunday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.00.

NYSE:XRX traded up $0.14 on Wednesday, hitting $37.59. The stock had a trading volume of 323,450 shares, compared to its average volume of 2,580,526. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 1.11. The stock has a market cap of $8.40 billion, a P/E ratio of 10.86 and a beta of 1.79. Xerox Corp has a 1 year low of $18.58 and a 1 year high of $39.38. The firm’s fifty day simple moving average is $31.53 and its two-hundred day simple moving average is $32.07.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.22. Xerox had a net margin of 7.28% and a return on equity of 19.62%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts predict that Xerox Corp will post 4.05 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, December 30th. Xerox’s dividend payout ratio is currently 28.90%.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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