Envestnet Asset Management Inc. Sells 59,039 Shares of Pitney Bowes Inc. (NYSE:PBI)

Envestnet Asset Management Inc. decreased its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 380,686 shares of the technology company's stock after selling 59,039 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.21% of Pitney Bowes worth $2,756,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Pitney Bowes during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its stake in shares of Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after purchasing an additional 2,873 shares in the last quarter. 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 valued at $103,000 after purchasing an additional 3,837 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Pitney Bowes during the 4th quarter valued at about $110,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock valued at $130,000 after purchasing an additional 1,878 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Pitney Bowes Trading Up 0.9 %

PBI traded up $0.08 during midday trading on Monday, reaching $8.55. The company's stock had a trading volume of 1,626,890 shares, compared to its average volume of 2,087,631. Pitney Bowes Inc. has a 1 year low of $4.09 and a 1 year high of $11.01. The stock's 50-day moving average is $9.15 and its 200-day moving average is $8.28. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -7.63, a PEG ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted 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 return on equity of 20.95% and a negative net margin of 7.71%. As a group, equities research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a $0.06 dividend. This is a boost from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.81%. Pitney Bowes's payout ratio is presently -21.43%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Kurt James Wolf sold 1,250,000 shares of the company'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 $6,010,935. The trade was a 66.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Arthur Fairweather sold 130,000 shares of the company's 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 completion of the transaction, the executive vice president now owns 176,145 shares in the company, valued at approximately $1,907,650.35. The trade was a 42.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,941,529 shares of company stock worth $19,517,109 in the last quarter. Corporate insiders own 9.00% 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.