Pitney Bowes Inc. (NYSE:PBI - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $9.37 and last traded at $8.74, with a volume of 698937 shares traded. The stock had previously closed at $8.82.
The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%.
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. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. This represents a $0.24 annualized dividend and a dividend yield of 2.28%. Pitney Bowes's dividend payout ratio is presently -9.17%.
Insider Activity at Pitney Bowes
In other news, Director Paul J. Evans purchased 29,000 shares of the company's stock in a transaction that occurred on 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 purchase, the director now owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company'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 transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in PBI. James J. Burns & Company LLC raised its stake in shares of Pitney Bowes by 9.7% in 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 during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Pitney Bowes by 11.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock worth $130,000 after purchasing an additional 1,878 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Pitney Bowes by 10.8% in the fourth 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 last quarter. Federated Hermes Inc. raised its stake in shares of Pitney Bowes by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock worth $740,000 after purchasing an additional 2,711 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake 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 purchasing an additional 2,873 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.
Pitney Bowes Stock Up 0.0 %
The stock has a market capitalization of $1.91 billion, a PE ratio of -4.84, a P/E/G ratio of 0.52 and a beta of 2.01. The firm has a 50 day moving average price of $7.83 and a 200 day moving average price of $7.36.
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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