Algert Global LLC Has $2.46 Million Position in Pitney Bowes Inc. (NYSE:PBI)

Algert Global LLC boosted its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 76.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 344,829 shares of the technology company's stock after purchasing an additional 149,944 shares during the period. Algert Global LLC owned about 0.19% of Pitney Bowes worth $2,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Pitney Bowes in the 2nd quarter valued at $48,000. Point72 DIFC Ltd raised its holdings in shares of Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock valued at $58,000 after buying an additional 7,819 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company's stock worth $77,000 after buying an additional 2,054 shares in the last quarter. Fifth Third Bancorp grew its holdings in Pitney Bowes by 3,412.2% during the 2nd quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company's stock worth $85,000 after acquiring an additional 16,174 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Pitney Bowes in the 2nd quarter valued at about $97,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Down 0.8 %

NYSE:PBI traded down $0.06 during trading hours on Wednesday, hitting $8.14. 1,005,687 shares of the stock were exchanged, compared to its average volume of 1,755,950. The company has a market capitalization of $1.48 billion, a P/E ratio of -3.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.97. The company's 50 day moving average is $7.27 and its two-hundred day moving average is $6.51. Pitney Bowes Inc. has a twelve month low of $3.68 and a twelve month high of $8.80.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The business had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, equities research analysts expect that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes's dividend payout ratio (DPR) is presently -9.17%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans acquired 29,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the completion of the transaction, the director now directly owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 14.30% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 21st.

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.