Victory Capital Management Inc. Increases Position in Pitney Bowes Inc. (NYSE:PBI)

Victory Capital Management Inc. raised its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 1,356.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 474,107 shares of the technology company's stock after buying an additional 441,553 shares during the period. Victory Capital Management Inc. owned about 0.26% of Pitney Bowes worth $3,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Hestia Capital Management LLC bought a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $114,326,000. Principal Financial Group Inc. raised its position in Pitney Bowes by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company's stock valued at $5,563,000 after purchasing an additional 30,658 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pitney Bowes by 47.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock worth $13,139,000 after buying an additional 586,249 shares during the period. Algert Global LLC grew its position in shares of Pitney Bowes by 76.9% during the 3rd quarter. Algert Global LLC now owns 344,829 shares of the technology company's stock worth $2,459,000 after buying an additional 149,944 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Pitney Bowes by 3,308.0% during the third quarter. FMR LLC now owns 320,152 shares of the technology company's stock valued at $2,283,000 after buying an additional 310,758 shares during the period. 67.88% of the stock is currently owned by institutional investors.

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Insider Transactions at Pitney Bowes

In related news, EVP James Arthur Fairweather sold 130,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the transaction, the executive vice president now directly owns 176,145 shares of the company's stock, valued at approximately $1,907,650.35. This represents a 42.46 % 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 1,250,000 shares of the stock in a transaction dated 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 completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 1,974,484 shares of company stock worth $19,815,631 over the last 90 days. 14.30% of the stock is currently owned by company insiders.

Pitney Bowes Stock Down 0.6 %

Shares of NYSE PBI traded down $0.06 during midday trading on Thursday, reaching $9.44. 869,570 shares of the company's stock traded hands, compared to its average volume of 1,892,968. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -8.42, a P/E/G ratio of 0.59 and a beta of 2.02. The stock's 50 day simple moving average is $9.13 and its 200-day simple moving average is $7.94. Pitney Bowes Inc. has a one year low of $3.90 and a one year high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) 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%. Equities analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company 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 $0.06 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's dividend payout ratio is currently -21.43%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 3rd.

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.