AlphaQuest LLC Takes $468,000 Position in Pitney Bowes Inc. (NYSE:PBI)

AlphaQuest LLC acquired a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 64,608 shares of the technology company's stock, valued at approximately $468,000.

Several other hedge funds have also bought and sold shares of PBI. Hestia Capital Management LLC purchased a new stake in shares of Pitney Bowes during the 4th quarter valued at $114,326,000. JPMorgan Chase & Co. raised its position in Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company's stock valued at $6,897,000 after purchasing an additional 624,878 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Pitney Bowes by 47.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock worth $13,139,000 after purchasing an additional 586,249 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of Pitney Bowes in the 3rd quarter worth about $3,470,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pitney Bowes during the 3rd quarter valued at about $3,442,000. 67.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 3rd.

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Pitney Bowes Stock Down 3.0 %

NYSE PBI opened at $9.09 on Friday. The company has a 50-day simple moving average of $8.97 and a two-hundred day simple moving average of $7.87. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -8.11, a PEG ratio of 0.59 and a beta of 2.02.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. Equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.64%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. Pitney Bowes's payout ratio is presently -21.43%.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Arthur Fairweather sold 130,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now owns 176,145 shares of the company's stock, valued at approximately $1,907,650.35. This represents a 42.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,974,484 shares of company stock worth $19,815,631 in the last three months. 14.30% of the stock is owned by insiders.

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.

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