Algert Global LLC Sells 333,777 Shares of 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 lessened its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 54.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,066 shares of the technology company's stock after selling 333,777 shares during the quarter. Algert Global LLC owned approximately 0.15% of Pitney Bowes worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PBI. KBC Group NV purchased a new position in shares of Pitney Bowes during the 1st quarter worth $65,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Pitney Bowes during the 1st quarter valued at $98,000. PharVision Advisers LLC purchased a new position in shares of Pitney Bowes during the 4th quarter valued at $107,000. PFG Investments LLC lifted its stake 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 buying an additional 1,644 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Pitney Bowes during the 1st quarter valued at $122,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.00% of the stock is currently owned by company insiders.

Pitney Bowes Stock Down 1.0%

NYSE PBI traded down $0.12 on Tuesday, reaching $12.26. The company had a trading volume of 4,662,900 shares, compared to its average volume of 4,179,631. The stock has a market capitalization of $2.11 billion, a PE ratio of -20.44, a price-to-earnings-growth ratio of 0.63 and a beta of 1.54. The firm's 50 day moving average price is $11.40 and its 200 day moving average price is $10.12. Pitney Bowes Inc. has a 12 month low of $6.22 and a 12 month high of $13.11.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. The company had revenue of $461.91 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes announced that its board has authorized a share repurchase program on Wednesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is 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. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date is Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. Pitney Bowes's payout ratio is presently -53.33%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PBI shares. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Pitney Bowes currently has a consensus rating of "Hold".

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.