37,669 Shares in Pitney Bowes Inc. $PBI Bought by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. acquired 37,669 shares of Pitney Bowes, valued at approximately $341,000, indicating growing institutional interest in the company.
• Pitney Bowes announced a stock repurchase program allowing for the buyback of up to $400 million in shares, suggesting the board believes the stock is undervalued.
• The company raised its quarterly dividend from $0.07 to $0.08 per share, representing an annual yield of 2.6% for shareholders.

Aristeia Capital L.L.C. bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,669 shares of the technology company's stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PFG Investments LLC grew its stake in shares of Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after purchasing an additional 1,644 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Pitney Bowes by 4.3% during the first quarter. Atria Wealth Solutions Inc. now owns 85,340 shares of the technology company's stock worth $772,000 after purchasing an additional 3,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pitney Bowes by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,275 shares of the technology company's stock worth $668,000 after purchasing an additional 3,904 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Pitney Bowes during the first quarter worth $36,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Pitney Bowes by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company's stock worth $547,000 after purchasing an additional 4,866 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Activity

In other Pitney Bowes news, Director Brent D. Rosenthal bought 3,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the purchase, the director owned 3,000 shares of the company's stock, valued at approximately $35,910. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the sale, the executive vice president owned 115,405 shares of the company's stock, valued at $1,401,016.70. This trade represents a 23.27% decrease in their position. The disclosure for this sale can be found here. 9.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Pitney Bowes Price Performance

Shares of PBI opened at $12.26 on Monday. Pitney Bowes Inc. has a 1-year low of $6.22 and a 1-year high of $13.11. The stock has a market cap of $2.11 billion, a PE ratio of -20.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The firm has a fifty day moving average price of $11.66 and a 200 day moving average price of $10.23.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The firm had revenue of $461.91 million during the quarter, compared to analysts' expectations of $475.92 million. During the same period in the previous year, the company earned $0.03 earnings per share. Pitney Bowes's quarterly revenue was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, equities analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 30th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the technology company to buy up to 18.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. Pitney Bowes's dividend payout ratio is currently -53.33%.

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.

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