Envestnet Asset Management Inc. Decreases Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Envestnet Asset Management Inc. reduced its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 13.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 380,686 shares of the technology company's stock after selling 59,039 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.21% of Pitney Bowes worth $2,756,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new position in shares of Pitney Bowes in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC raised its holdings in Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after acquiring an additional 2,873 shares during the period. Xponance Inc. grew its position in shares of Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock valued at $103,000 after purchasing an additional 3,837 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Pitney Bowes during the 4th quarter valued at $110,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Pitney Bowes by 11.6% during the 4th 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 in the last quarter. 67.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP James Arthur Fairweather sold 130,000 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 176,145 shares of the company's stock, valued at $1,907,650.35. This trade represents a 42.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kurt James Wolf sold 1,250,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the sale, the director now owns 622,250 shares in the company, valued at $6,010,935. The trade was a 66.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,941,529 shares of company stock valued at $19,517,109. Insiders own 9.00% of the company's stock.

Pitney Bowes Price Performance

Shares of NYSE:PBI traded up $0.16 on Thursday, hitting $8.84. The company's stock had a trading volume of 453,768 shares, compared to its average volume of 2,390,164. The company has a 50-day simple moving average of $9.03 and a 200 day simple moving average of $8.30. The company has a market capitalization of $1.62 billion, a PE ratio of -7.89, a PEG ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 1 year low of $4.45 and a 1 year high of $11.01.

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 for the quarter, topping 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%. On average, equities research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were issued a $0.06 dividend. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.72%. Pitney Bowes's dividend payout ratio is -21.43%.

Analysts Set New Price Targets

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

Pitney Bowes Profile

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.