Wolverine Asset Management LLC acquired a new stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 68,814 shares of the technology company's stock, valued at approximately $498,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its position in shares of 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 purchasing an additional 7,478 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Pitney Bowes in the 3rd quarter worth approximately $86,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Pitney Bowes by 101.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company's stock valued at $117,000 after acquiring an additional 8,221 shares in the last quarter. James J. Burns & Company LLC bought a new stake in Pitney Bowes during the third quarter worth $121,000. Finally, Fiducient Advisors LLC bought a new position in Pitney Bowes in the 3rd quarter valued at $143,000. 67.88% of the stock is owned by institutional investors.
Pitney Bowes Trading Down 0.9 %
Shares of PBI stock traded down $0.10 during trading hours on Thursday, hitting $10.77. 2,260,703 shares of the company were exchanged, compared to its average volume of 2,585,660. Pitney Bowes Inc. has a 52-week low of $3.76 and a 52-week high of $11.01. The firm has a fifty day simple moving average of $8.40 and a 200 day simple moving average of $7.67. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -9.61, 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 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 net margin of 7.71% and a negative return on equity of 20.95%. Sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.
Pitney Bowes Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 annualized dividend and a yield of 2.23%. Pitney Bowes's dividend payout ratio is currently -21.43%.
Insider Buying and Selling at Pitney Bowes
In other news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the sale, the executive vice president now owns 18,664 shares in the company, valued at approximately $151,551.68. This trade represents a 69.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the transaction, 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. Insiders sold a total of 1,535,593 shares of company stock valued at $14,976,659 in the last three months. Company insiders own 14.30% of the company's stock.
Pitney Bowes Company Profile
(
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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