Franklin Resources Inc. Boosts Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Franklin Resources Inc. raised its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 593.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,633 shares of the technology company's stock after acquiring an additional 91,251 shares during the quarter. Franklin Resources Inc. owned 0.06% of Pitney Bowes worth $751,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PBI. nVerses Capital LLC purchased a new stake in shares of Pitney Bowes during the 2nd quarter worth approximately $48,000. Point72 DIFC Ltd increased its position in shares of Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock valued at $58,000 after buying an additional 7,819 shares in the last quarter. Quarry LP raised its stake in shares of Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company's stock worth $59,000 after buying an additional 7,478 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Pitney Bowes in the 3rd quarter worth about $86,000. Finally, AQR Capital Management LLC acquired a new stake in Pitney Bowes in the 2nd quarter valued at about $97,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Pitney Bowes Stock Performance

NYSE:PBI traded down $0.05 during mid-day trading on Monday, hitting $7.24. 1,597,405 shares of the company's stock traded hands, compared to its average volume of 1,768,109. Pitney Bowes Inc. has a 1 year low of $3.68 and a 1 year high of $8.80. The company has a market cap of $1.32 billion, a PE ratio of -3.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.97. The firm's 50 day simple moving average is $7.59 and its 200 day simple moving average is $6.92.

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

Pitney Bowes Announces Dividend

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

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.