JPMorgan Chase & Co. Grows Position in Pitney Bowes Inc. (NYSE:PBI)

JPMorgan Chase & Co. raised its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 182.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 967,384 shares of the technology company's stock after purchasing an additional 624,878 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of Pitney Bowes worth $6,897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PBI. Franklin Resources Inc. lifted its holdings in shares of Pitney Bowes by 593.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company's stock valued at $751,000 after acquiring an additional 91,251 shares during the last quarter. Optimist Retirement Group LLC purchased a new stake in Pitney Bowes during the third quarter valued at approximately $252,000. Sanctuary Advisors LLC bought a new stake in shares of Pitney Bowes in the 3rd quarter valued at approximately $569,000. Geode Capital Management LLC boosted 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 worth $25,878,000 after purchasing an additional 51,093 shares during the period. Finally, Barclays PLC increased its position in shares of Pitney Bowes by 298.5% during the 3rd quarter. Barclays PLC now owns 277,469 shares of the technology company's stock valued at $1,977,000 after purchasing an additional 207,838 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Paul J. Evans bought 29,000 shares of Pitney Bowes stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $7.80 per share, with a total value of $226,200.00. Following the completion of the transaction, the director now owns 29,000 shares in the company, valued at $226,200. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the sale, the executive vice president now owns 18,664 shares of the company's stock, valued at $151,551.68. The trade was a 69.39 % decrease in their position. The disclosure for this sale can be found here. 14.30% of the stock is owned by corporate insiders.

Pitney Bowes Stock Performance

NYSE PBI traded up $0.02 on Thursday, hitting $7.30. 1,838,355 shares of the stock were exchanged, compared to its average volume of 1,579,885. Pitney Bowes Inc. has a 52-week low of $3.68 and a 52-week high of $8.80. The firm has a market capitalization of $1.33 billion, a P/E ratio of -3.35, a P/E/G ratio of 0.44 and a beta of 2.00. The stock has a fifty day moving average price of $7.58 and a two-hundred day moving average price of $7.10.

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

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.74%. Pitney Bowes's payout ratio is -9.17%.

Pitney Bowes Company 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.