Canada Pension Plan Investment Board Increases Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Canada Pension Plan Investment Board increased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 33.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 880,300 shares of the technology company's stock after purchasing an additional 221,300 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.48% of Pitney Bowes worth $6,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. James J. Burns & Company LLC increased its position in 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 buying an additional 1,637 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock worth $130,000 after acquiring an additional 1,878 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Pitney Bowes by 10.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock valued at $150,000 after acquiring an additional 2,020 shares during the period. Federated Hermes Inc. raised its position in Pitney Bowes by 2.7% in the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock valued at $740,000 after purchasing an additional 2,711 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock worth $37,000 after purchasing an additional 2,873 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the transaction, the executive vice president now directly owns 176,145 shares in the company, valued at approximately $1,907,650.35. This represents a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the sale, the executive vice president now owns 124,124 shares of the company's stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,976,529 shares of company stock worth $19,832,809 over the last 90 days. Company insiders own 9.00% of the company's stock.

Pitney Bowes Stock Performance

Pitney Bowes stock remained flat at $8.47 during mid-day trading on Friday. The company's stock had a trading volume of 1,302,310 shares, compared to its average volume of 2,080,689. The stock has a fifty day moving average price of $9.20 and a 200-day moving average price of $8.25. Pitney Bowes Inc. has a 52 week low of $4.07 and a 52 week high of $11.01. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -7.56, a PEG ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a $0.06 dividend. The ex-dividend date 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 (DPR) is presently -21.43%.

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.