Pitney Bowes Inc. (NYSE:PBI) Director Paul J. Evans Purchases 29,000 Shares

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) Director Paul J. Evans bought 29,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $7.80 per share, with a total value of $226,200.00. Following the transaction, the director now directly owns 29,000 shares of the company's stock, valued at approximately $226,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pitney Bowes Trading Up 4.7 %

Shares of PBI traded up $0.36 during trading hours on Friday, reaching $8.05. 2,421,363 shares of the company's stock traded hands, compared to its average volume of 1,758,095. The firm's 50 day simple moving average is $7.19 and its 200-day simple moving average is $6.43. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $8.80. The stock has a market cap of $1.46 billion, a PE ratio of -3.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.97.

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

Pitney Bowes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes's payout ratio is presently -9.17%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Pitney Bowes

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Pitney Bowes by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company's stock valued at $25,878,000 after purchasing an additional 51,093 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company's stock worth $10,754,000 after purchasing an additional 21,811 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Pitney Bowes by 2,894.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company's stock valued at $8,760,000 after purchasing an additional 1,187,531 shares during the period. Marshall Wace LLP raised its holdings in Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company's stock worth $3,588,000 after buying an additional 503,378 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Pitney Bowes by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company's stock worth $2,639,000 after acquiring an additional 19,000 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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