170,453 Shares in Pitney Bowes Inc. $PBI Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP opened a new position in Pitney Bowes, buying 170,453 shares worth about $1.8 million in the fourth quarter and taking about 0.11% ownership.
• Analyst sentiment has improved somewhat: Bank of America and Truist raised their price targets, and the stock now carries a Moderate Buy consensus with an average target of $15.18.
• Insider activity has been heavy, with CEO Kurt James Wolf selling 966,561 shares, while Pitney Bowes recently reported quarterly EPS of $0.47, met estimates, and cut its dividend to $0.01 per share.

GSA Capital Partners LLP purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 170,453 shares of the technology company's stock, valued at approximately $1,802,000. GSA Capital Partners LLP owned approximately 0.11% of Pitney Bowes at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after purchasing an additional 1,015 shares during the last quarter. Advisory Services Network LLC boosted its position in Pitney Bowes by 2.4% in the third quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company's stock worth $604,000 after purchasing an additional 1,234 shares during the last quarter. Baird Financial Group Inc. boosted its position in Pitney Bowes by 12.5% in the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company's stock worth $144,000 after purchasing an additional 1,459 shares during the last quarter. Amalgamated Bank boosted its position in Pitney Bowes by 3.4% in the third quarter. Amalgamated Bank now owns 46,680 shares of the technology company's stock worth $533,000 after purchasing an additional 1,555 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in Pitney Bowes by 17.6% in the third quarter. Stratos Wealth Partners LTD. now owns 11,993 shares of the technology company's stock worth $137,000 after purchasing an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Wall Street Analyst Weigh In

PBI has been the topic of a number of recent research reports. Wall Street Zen raised Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Bank of America raised Pitney Bowes from an "underperform" rating to a "neutral" rating and upped their price target for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Truist Financial upped their price target on Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a report on Friday, May 8th. Finally, Citigroup reissued an "outperform" rating on shares of Pitney Bowes in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Pitney Bowes currently has a consensus rating of "Moderate Buy" and an average price target of $15.18.

Insider Activity

In related news, CEO Kurt James Wolf sold 966,561 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the completion of the sale, the chief executive officer directly owned 452,628 shares in the company, valued at $6,599,316.24. This represents a 68.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brent D. Rosenthal bought 4,000 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $10.22 per share, with a total value of $40,880.00. Following the completion of the acquisition, the director directly owned 9,000 shares in the company, valued at $91,980. This trade represents a 80.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 2,456,054 shares of company stock worth $34,864,180 over the last quarter. Corporate insiders own 6.50% of the company's stock.

Pitney Bowes Stock Down 5.0%

Shares of NYSE PBI opened at $15.63 on Wednesday. The firm has a market capitalization of $2.12 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.74 and a beta of 1.64. The stock's 50-day simple moving average is $12.74 and its two-hundred day simple moving average is $11.10. Pitney Bowes Inc. has a twelve month low of $8.95 and a twelve month high of $16.56.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. As a group, research analysts anticipate that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, May 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Pitney Bowes's dividend payout ratio is 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes Inc. (NYSE:PBI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.