Invesco Ltd. lessened its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,100,789 shares of the technology company's stock after selling 43,795 shares during the quarter. Invesco Ltd. owned about 1.16% of Pitney Bowes worth $15,210,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. James J. Burns & Company LLC raised its holdings in shares of Pitney Bowes by 9.7% during 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. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Pitney Bowes by 11.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock valued at $130,000 after buying an additional 1,878 shares during the period. First Citizens Bank & Trust Co. boosted its stake in shares of Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock worth $150,000 after buying an additional 2,020 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Pitney Bowes by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock worth $740,000 after buying an additional 2,711 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings 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 acquiring an additional 2,873 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock in a transaction on 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 sale, the director now owns 622,250 shares of the company's stock, valued at approximately $6,010,935. This trade represents a 66.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Arthur Fairweather sold 130,000 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 176,145 shares of the company's stock, 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 sold 1,976,529 shares of company stock worth $19,832,809 over the last three months. 9.00% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Separately, StockNews.com downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st.
Check Out Our Latest Analysis on PBI
Pitney Bowes Stock Performance
Shares of PBI traded up $0.02 during trading hours on Friday, hitting $8.49. The stock had a trading volume of 307,270 shares, compared to its average volume of 2,076,850. The firm has a 50-day moving average price of $9.20 and a 200 day moving average price of $8.25. Pitney Bowes Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $11.01. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -7.58, a PEG ratio of 0.59 and a beta of 1.89.
Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping 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 predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The firm also recently declared 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 represents a $0.24 dividend on an annualized basis and a yield of 2.83%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's dividend payout ratio is currently -21.43%.
About Pitney Bowes
(
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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