Hsbc Holdings PLC Sells 145,628 Shares of Pitney Bowes Inc. (NYSE:PBI)

Hsbc Holdings PLC trimmed its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,533 shares of the technology company's stock after selling 145,628 shares during the quarter. Hsbc Holdings PLC owned approximately 0.43% of Pitney Bowes worth $3,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC acquired a new position in shares of Pitney Bowes in the 4th quarter worth approximately $1,869,000. Tidal Investments LLC bought a new stake in Pitney Bowes during the first quarter valued at $764,000. Quadrature Capital Ltd acquired a new stake in Pitney Bowes during the 4th quarter worth about $240,000. Texas Permanent School Fund Corp raised its position in shares of Pitney Bowes by 37.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 178,509 shares of the technology company's stock worth $907,000 after acquiring an additional 48,390 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Pitney Bowes in the 1st quarter valued at about $197,000. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Stock Performance

Shares of PBI stock traded down $0.05 during trading hours on Wednesday, hitting $7.11. 537,801 shares of the company were exchanged, compared to its average volume of 1,767,025. The company has a 50 day simple moving average of $6.78 and a two-hundred day simple moving average of $5.57. Pitney Bowes Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $7.70.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm had revenue of $793.17 million during the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The business's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes's dividend payout ratio (DPR) is -9.22%.

Analysts Set New Price Targets

Separately, StockNews.com cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 21st.

About Pitney Bowes

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.