Assenagon Asset Management S.A. Boosts Stake in Pitney Bowes Inc. (NYSE:PBI)

Assenagon Asset Management S.A. raised its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 47.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,814,811 shares of the technology company's stock after buying an additional 586,249 shares during the quarter. Assenagon Asset Management S.A. owned about 1.00% of Pitney Bowes worth $13,139,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Point72 DIFC Ltd raised its holdings in shares of Pitney Bowes by 218.0% during the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock worth $58,000 after purchasing an additional 7,819 shares during the last quarter. Quarry LP raised its position in Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company's stock valued at $59,000 after acquiring an additional 7,478 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Pitney Bowes in the 3rd quarter worth approximately $86,000. AQR Capital Management LLC acquired a new stake in shares of Pitney Bowes during the 2nd quarter worth approximately $97,000. Finally, nVerses Capital LLC increased its holdings in shares of Pitney Bowes by 59.6% during the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company's stock valued at $107,000 after purchasing an additional 5,600 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Pitney Bowes Price Performance

PBI stock traded down $0.06 during midday trading on Friday, hitting $7.24. 1,314,798 shares of the stock traded hands, compared to its average volume of 1,774,467. Pitney Bowes Inc. has a 1-year low of $3.68 and a 1-year high of $8.80. The stock's fifty day simple moving average is $7.56 and its 200-day simple moving average is $7.12. The firm has a market cap of $1.32 billion, a P/E ratio of -3.32, a PEG ratio of 0.44 and a beta of 2.00.

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

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes's dividend payout ratio is presently -9.17%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans bought 29,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the completion of the acquisition, the director now directly owns 29,000 shares of the company's stock, valued at $226,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.30% of the company's stock.

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.