Pitney Bowes Inc. (NYSE:PBI - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $10.84 and last traded at $10.83, with a volume of 563889 shares. The stock had previously closed at $10.65.
Pitney Bowes Price Performance
The company has a 50-day moving average of $8.22 and a two-hundred day moving average of $7.56. The company has a market capitalization of $1.88 billion, a PE ratio of -9.23, a P/E/G ratio of 0.59 and a beta of 2.01.
Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data 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, research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.
Pitney Bowes Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a $0.06 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Pitney Bowes's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.32%. Pitney Bowes's dividend payout ratio is -17.86%.
Insider Activity
In related news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction that occurred on Monday, January 27th. The stock was 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. This trade represents a 22.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,405,593 shares of company stock worth $13,568,759 in the last three months. Company insiders own 14.30% of the company's stock.
Hedge Funds Weigh In On Pitney Bowes
Several institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in shares of Pitney Bowes during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its position in shares of Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock worth $37,000 after buying an additional 2,873 shares in the last quarter. Quarry LP boosted its stake in Pitney Bowes by 889.2% during the third 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 last quarter. Truvestments Capital LLC purchased a new position in Pitney Bowes during the 3rd quarter valued at approximately $86,000. Finally, Xponance Inc. increased its stake in Pitney Bowes by 36.7% in the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock worth $103,000 after acquiring an additional 3,837 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.
About Pitney Bowes
(
Get Free Report)
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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