Advisory Services Network LLC Acquires New Position in Pitney Bowes Inc. (NYSE:PBI)

Advisory Services Network LLC purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 49,398 shares of the technology company's stock, valued at approximately $358,000.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Pitney Bowes by 8.6% in the 4th quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock valued at $270,000 after purchasing an additional 2,962 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Pitney Bowes by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock valued at $740,000 after acquiring an additional 2,711 shares during the period. Wedbush Securities Inc. bought a new stake in shares of Pitney Bowes in the 4th quarter worth about $863,000. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Pitney Bowes during the 4th quarter valued at about $130,000. Finally, Wells Fargo & Company MN raised its position in Pitney Bowes by 17.0% in the 4th quarter. Wells Fargo & Company MN now owns 126,424 shares of the technology company's stock worth $915,000 after purchasing an additional 18,373 shares during the period. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insiders Place Their Bets

In related news, Director Kurt James Wolf sold 78,285 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.66, for a total transaction of $834,518.10. Following the completion of the sale, the director now owns 606,289 shares of the company's stock, valued at approximately $6,463,040.74. This represents a 11.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares of the company's stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. Company insiders own 9.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 31st.

Pitney Bowes Stock Up 4.7 %

PBI stock traded up $0.37 during trading on Tuesday, hitting $8.18. 1,359,264 shares of the company's stock traded hands, compared to its average volume of 2,070,966. The business has a fifty day simple moving average of $9.33 and a two-hundred day simple moving average of $8.24. The firm has a market capitalization of $1.50 billion, a P/E ratio of -7.29, a PEG ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 1 year low of $4.04 and a 1 year high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. On average, equities research analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were paid a $0.06 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's dividend payout ratio is presently -21.43%.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.