JPMorgan Chase & Co. Sells 121,552 Shares of Pitney Bowes Inc. (NYSE:PBI)

JPMorgan Chase & Co. cut its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 845,832 shares of the technology company's stock after selling 121,552 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Pitney Bowes worth $6,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. WINTON GROUP Ltd increased its position in shares of Pitney Bowes by 16.7% during the fourth quarter. WINTON GROUP Ltd now owns 74,044 shares of the technology company's stock worth $536,000 after acquiring an additional 10,576 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Pitney Bowes in the 4th quarter worth about $190,000. Prudential Financial Inc. grew its position in Pitney Bowes by 49.8% in the 4th quarter. Prudential Financial Inc. now owns 747,634 shares of the technology company's stock worth $5,413,000 after purchasing an additional 248,513 shares in the last quarter. Vanguard Group Inc. grew its position in Pitney Bowes by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after purchasing an additional 1,299,716 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Pitney Bowes by 17.5% in the fourth quarter. LPL Financial LLC now owns 233,597 shares of the technology company's stock valued at $1,691,000 after acquiring an additional 34,717 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the sale, the director now directly owns 622,250 shares of the company's stock, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,974,484 shares of company stock worth $19,815,631. Company insiders own 9.00% of the company's stock.

Pitney Bowes Trading Up 4.3 %

Shares of PBI stock traded up $0.35 during trading on Wednesday, reaching $8.44. 319,491 shares of the company's stock traded hands, compared to its average volume of 2,070,985. The firm's 50-day moving average is $9.28 and its 200 day moving average is $8.24. Pitney Bowes Inc. has a 1 year low of $4.07 and a 1 year high of $11.01. The company has a market capitalization of $1.54 billion, a P/E ratio of -7.54, a PEG ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates 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%. As a group, sell-side analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a $0.06 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.24 annualized dividend and a dividend yield of 2.84%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's payout ratio is currently -21.43%.

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.