Assenagon Asset Management S.A. Has $8.76 Million Stake in Pitney Bowes Inc. (NYSE:PBI)

Assenagon Asset Management S.A. boosted its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 2,894.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,228,562 shares of the technology company's stock after purchasing an additional 1,187,531 shares during the period. Assenagon Asset Management S.A. owned approximately 0.68% of Pitney Bowes worth $8,760,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Pitney Bowes in the third quarter valued at $519,000. nVerses Capital LLC grew its stake in shares of Pitney Bowes by 59.6% in the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company's stock worth $107,000 after purchasing an additional 5,600 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Pitney Bowes in the 3rd quarter worth approximately $1,405,000. Point72 DIFC Ltd raised its holdings in shares of Pitney Bowes by 218.0% in the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock worth $58,000 after purchasing an additional 7,819 shares in the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in Pitney Bowes during the second quarter worth approximately $232,000. 67.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Pitney Bowes Stock Up 0.7 %

Shares of Pitney Bowes stock traded up $0.05 during trading on Tuesday, hitting $7.26. The stock had a trading volume of 1,186,518 shares, compared to its average volume of 1,716,730. Pitney Bowes Inc. has a 1 year low of $3.05 and a 1 year high of $7.70. The stock has a 50 day simple moving average of $6.97 and a 200 day simple moving average of $6.05. The company has a market capitalization of $1.30 billion, a PE ratio of -4.80, a P/E/G ratio of 1.35 and a beta of 1.97.

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

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.20 annualized dividend and a yield of 2.75%. Pitney Bowes's dividend payout ratio (DPR) is presently -13.33%.

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.