TrueMark Investments LLC decreased its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 77.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,186 shares of the technology company's stock after selling 34,281 shares during the period. TrueMark Investments LLC's holdings in Pitney Bowes were worth $74,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in PBI. Hestia Capital Management LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at approximately $114,326,000. Vanguard Group Inc. increased its stake in shares of Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after acquiring an additional 1,299,716 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Pitney Bowes by 182.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company's stock worth $6,897,000 after buying an additional 624,878 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock valued at $13,139,000 after buying an additional 586,249 shares during the period. Finally, PEAK6 Investments LLC bought a new position in Pitney Bowes during the third quarter valued at about $3,470,000. 67.88% of the stock is currently owned by institutional investors.
Insider Activity at Pitney Bowes
In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the sale, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. The trade was a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,974,484 shares of company stock valued at $19,815,631. Insiders own 14.30% of the company's stock.
Pitney Bowes Trading Down 2.5 %
NYSE PBI opened at $9.07 on Tuesday. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01. The stock's 50-day moving average price is $9.49 and its two-hundred day moving average price is $8.10. The company has a market cap of $1.66 billion, a PE ratio of -8.10, a PEG ratio of 0.59 and a beta of 2.02.
Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping 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%. Research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.65%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. Pitney Bowes's dividend payout ratio (DPR) is currently -21.43%.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Monday.
Check Out Our Latest Stock Report on Pitney Bowes
About Pitney Bowes
(
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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