Algert Global LLC Decreases Position in Pitney Bowes Inc. $PBI

Key Points

• Algert Global LLC has reduced its stake in Pitney Bowes Inc. by 54.4% during the first quarter, holding approximately 280,066 shares valued at $2.5 million.
• Pitney Bowes reported a net margin of -5.60% and a revenue of $461.91 million, which was below the estimated $475.92 million, for the most recent quarter.
• The company announced a $400 million stock repurchase plan and increased its quarterly dividend from $0.07 to $0.08, indicating its belief that shares are undervalued.

Algert Global LLC decreased its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 54.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,066 shares of the technology company's stock after selling 333,777 shares during the period. Algert Global LLC owned approximately 0.15% of Pitney Bowes worth $2,535,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PBI. KBC Group NV purchased a new position in Pitney Bowes in the 1st quarter worth about $65,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pitney Bowes during the 1st quarter valued at about $98,000. PharVision Advisers LLC purchased a new stake in shares of Pitney Bowes during the 4th quarter valued at about $107,000. PFG Investments LLC increased its position in shares of Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Pitney Bowes during the 1st quarter valued at about $122,000. Institutional investors own 67.88% of the company's stock.

Analysts Set New Price Targets

PBI has been the subject of several analyst reports. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Friday. Sidoti raised shares of Pitney Bowes to a "hold" rating in a report on Monday, May 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Pitney Bowes Stock Up 4.9%

NYSE PBI traded up $0.5850 during trading hours on Monday, hitting $12.4050. 2,359,177 shares of the company were exchanged, compared to its average volume of 2,640,126. The stock has a 50-day moving average price of $11.32 and a 200 day moving average price of $10.08. The stock has a market cap of $2.14 billion, a PE ratio of -20.68, a price-to-earnings-growth ratio of 0.61 and a beta of 1.54. Pitney Bowes Inc. has a 52 week low of $6.22 and a 52 week high of $13.11.

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

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be issued a $0.08 dividend. The ex-dividend date 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 (DPR) is presently -53.33%.

Pitney Bowes announced that its board has authorized a stock repurchase plan on Wednesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the sale, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.00% of the stock is owned by insiders.

Pitney Bowes Company 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.