Arrowstreet Capital Limited Partnership Makes New $1.60 Million Investment in Pitney Bowes Inc. (NYSE:PBI)

Arrowstreet Capital Limited Partnership acquired a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 221,347 shares of the technology company's stock, valued at approximately $1,603,000. Arrowstreet Capital Limited Partnership owned about 0.12% of Pitney Bowes at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Pitney Bowes by 130.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock worth $37,000 after buying an additional 2,873 shares during the period. Xponance Inc. boosted its stake in shares of Pitney Bowes by 36.7% during the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock worth $103,000 after purchasing an additional 3,837 shares during the period. Cibc World Markets Corp bought a new position in Pitney Bowes during the 4th quarter valued at about $110,000. Envestnet Portfolio Solutions Inc. raised its position in Pitney Bowes by 11.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock worth $130,000 after purchasing an additional 1,878 shares during the period. Finally, James J. Burns & Company LLC lifted its stake in Pitney Bowes by 9.7% in the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company's stock worth $135,000 after purchasing an additional 1,637 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insider Transactions at Pitney Bowes

In other news, Director Kurt James Wolf sold 481,199 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the transaction, the director now directly owns 584,636 shares of the company's stock, valued at approximately $6,296,529.72. The trade was a 45.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Arthur Fairweather sold 130,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the completion of the sale, the executive vice president now owns 176,145 shares in the company, valued at $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. In the last 90 days, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. 9.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Pitney Bowes Stock Performance

PBI stock traded down $0.06 during midday trading on Wednesday, reaching $8.15. The company's stock had a trading volume of 138,902 shares, compared to its average volume of 2,050,699. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.27, a PEG ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 1 year low of $3.92 and a 1 year high of $11.01. The stock has a fifty day simple moving average of $9.41 and a two-hundred day simple moving average of $8.20.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating 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%. As a group, analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 2.95%. Pitney Bowes's payout ratio is -21.43%.

Pitney Bowes 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.