49,398 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by Advisory Services Network LLC

Advisory Services Network LLC acquired a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 49,398 shares of the technology company's stock, valued at approximately $358,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PBI. Barclays PLC increased its holdings in shares of Pitney Bowes by 298.5% in the 3rd quarter. Barclays PLC now owns 277,469 shares of the technology company's stock worth $1,977,000 after buying an additional 207,838 shares during the last quarter. Geode Capital Management LLC increased its stake in Pitney Bowes by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company's stock valued at $25,878,000 after acquiring an additional 51,093 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Pitney Bowes during the third quarter valued at about $569,000. Optimist Retirement Group LLC bought a new position in shares of Pitney Bowes during the 3rd quarter valued at about $252,000. Finally, Franklin Resources Inc. grew its holdings in shares of Pitney Bowes by 593.2% during the 3rd quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company's stock valued at $751,000 after purchasing an additional 91,251 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pitney Bowes

In related news, Director Kurt James Wolf sold 481,199 shares of Pitney Bowes stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the sale, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. The trade was a 45.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $1,119,598.48. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock worth $19,815,631 over the last quarter. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Stock Performance

NYSE:PBI traded up $0.32 during midday trading on Wednesday, reaching $8.41. 503,274 shares of the stock traded hands, compared to its average volume of 2,071,729. The stock has a market capitalization of $1.54 billion, a P/E ratio of -7.51, a PEG ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 12 month low of $4.07 and a 12 month high of $11.01. The company has a fifty day moving average of $9.28 and a 200 day moving average of $8.24.

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

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was 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 dividend yield of 2.85%. Pitney Bowes's payout ratio is -21.43%.

Analyst Ratings Changes

Separately, StockNews.com cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 31st.

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.