Allspring Global Investments Holdings LLC Invests $3.43 Million in Pitney Bowes Inc. $PBI

Key Points

• Allspring Global Investments Holdings LLC has invested approximately $3.43 million in Pitney Bowes Inc., acquiring 314,282 shares during the second quarter.
• Pitney Bowes has increased its quarterly dividend from $0.07 to $0.08, representing an annualized yield of 2.8%.
• Wall Street analysts have mixed views, with ratings including "buy," "hold," and "sell," and the company currently holds an average rating of "Reduce".

Allspring Global Investments Holdings LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 314,282 shares of the technology company's stock, valued at approximately $3,429,000. Allspring Global Investments Holdings LLC owned about 0.17% of Pitney Bowes as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in Pitney Bowes by 76.5% in the first quarter. SG Americas Securities LLC now owns 32,380 shares of the technology company's stock valued at $293,000 after purchasing an additional 14,032 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Pitney Bowes in the first quarter valued at about $124,000. Envestnet Portfolio Solutions Inc. increased its holdings in Pitney Bowes by 42.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,683 shares of the technology company's stock valued at $232,000 after purchasing an additional 7,683 shares during the last quarter. PFG Investments LLC increased its holdings in Pitney Bowes by 14.6% in the first 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, Cambridge Investment Research Advisors Inc. increased its holdings in Pitney Bowes by 8.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company's stock valued at $547,000 after purchasing an additional 4,866 shares during the last quarter. Institutional investors own 67.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Weiss Ratings reissued a "sell (d)" rating on shares of Pitney Bowes in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce".

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal acquired 3,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were purchased 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Stock Performance

Shares of NYSE PBI opened at $11.38 on Tuesday. The stock has a 50 day moving average price of $11.56 and a 200 day moving average price of $10.62. Pitney Bowes Inc. has a 52 week low of $6.88 and a 52 week high of $13.11. The stock has a market capitalization of $1.96 billion, a PE ratio of -18.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.27.

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

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were paid a $0.08 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, August 11th. Pitney Bowes's dividend payout ratio is currently -53.33%.

Pitney Bowes declared that its Board of Directors has authorized a share buyback program on Wednesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 18.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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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