Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,576,168 shares of the technology company's stock after selling 374,994 shares during the period. Bank of New York Mellon Corp owned approximately 0.87% of Pitney Bowes worth $11,411,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. James J. Burns & Company LLC raised its holdings 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 purchasing an additional 1,637 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Pitney Bowes by 10.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock worth $150,000 after purchasing an additional 2,020 shares during the period. Westside Investment Management Inc. raised its stake in shares of Pitney Bowes by 0.5% during the 4th quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company's stock worth $4,532,000 after buying an additional 3,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Pitney Bowes by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company's stock valued at $347,000 after buying an additional 4,728 shares during the period. Finally, Quarry LP lifted its holdings in shares of Pitney Bowes by 889.2% in the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company's stock valued at $59,000 after buying an additional 7,478 shares during the period. Institutional investors and hedge funds own 67.88% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Monday, March 3rd.

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Insiders Place Their Bets

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the 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 completion of the sale, the executive vice president now owns 124,124 shares of the company's stock, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kurt James Wolf sold 481,199 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the completion of the transaction, the director now owns 584,636 shares in the company, valued at $6,296,529.72. The trade was a 45.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. Insiders own 14.30% of the company's stock.

Pitney Bowes Stock Down 3.0 %

Shares of PBI opened at $9.09 on Friday. The company has a market capitalization of $1.66 billion, a PE ratio of -8.11, a P/E/G ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a 52-week low of $3.90 and a 52-week high of $11.01. The company has a 50-day simple moving average of $8.97 and a 200-day simple moving average of $7.87.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating 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%. On average, research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 2.64%. Pitney Bowes's dividend payout ratio is -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.

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