Charles Schwab Investment Management Inc. lowered its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,296,265 shares of the technology company's stock after selling 575,010 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.26% of Pitney Bowes worth $16,625,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Hestia Capital Management LLC purchased a new position in Pitney Bowes in the 4th quarter valued at about $114,326,000. Geode Capital Management LLC lifted its stake in shares of Pitney Bowes by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company's stock worth $25,878,000 after acquiring an additional 51,093 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock valued at $13,139,000 after purchasing an additional 586,249 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Pitney Bowes by 182.4% during the 3rd 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. Finally, Principal Financial Group Inc. increased its holdings in Pitney Bowes by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company's stock worth $5,563,000 after purchasing an additional 30,658 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Monday, March 3rd.
Get Our Latest Stock Analysis on Pitney Bowes
Pitney Bowes Stock Up 2.9 %
Shares of PBI traded up $0.28 during midday trading on Monday, hitting $9.66. The company had a trading volume of 1,900,881 shares, compared to its average volume of 1,908,643. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -8.62, a PEG ratio of 0.59 and a beta of 2.02. The company's 50 day moving average price is $9.22 and its 200 day moving average price is $7.98. Pitney Bowes Inc. has a 52 week low of $3.90 and a 52 week high of $11.01.
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 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 anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $0.06 per share. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, February 21st. Pitney Bowes's dividend payout ratio is currently -21.43%.
Insiders Place Their Bets
In other news, EVP James Arthur Fairweather sold 130,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock valued at $19,815,631 over the last 90 days. 14.30% of the stock is owned by company insiders.
Pitney Bowes Profile
(
Free Report)
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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