Allworth Financial LP Boosts Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Allworth Financial LP raised its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 16,831.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,503 shares of the technology company's stock after acquiring an additional 21,376 shares during the period. Allworth Financial LP's holdings in Pitney Bowes were worth $182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PBI. Vanguard Group Inc. lifted its stake in Pitney Bowes by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after acquiring an additional 1,299,716 shares during the period. First Trust Advisors LP bought a new position in shares of Pitney Bowes in the 4th quarter worth approximately $6,245,000. Millennium Management LLC lifted its stake in shares of Pitney Bowes by 103.0% in the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock worth $9,189,000 after purchasing an additional 644,002 shares during the period. PEAK6 LLC bought a new position in shares of Pitney Bowes in the 4th quarter worth approximately $3,547,000. Finally, Norges Bank bought a new position in shares of Pitney Bowes in the 4th quarter worth approximately $2,396,000. Institutional investors own 67.88% of the company's stock.

Insider Transactions at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president directly owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by company insiders.

Pitney Bowes Trading Up 0.6%

NYSE PBI traded up $0.07 on Friday, reaching $11.84. 407,443 shares of the stock were exchanged, compared to its average volume of 2,158,968. Pitney Bowes Inc. has a one year low of $5.58 and a one year high of $12.55. The firm has a market capitalization of $2.17 billion, a PE ratio of -13.01, a PEG ratio of 0.62 and a beta of 1.60. The company's 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $9.37.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The business had revenue of $493.42 million during the quarter, compared to analyst estimates of $498.99 million. During the same period last year, the firm posted ($0.01) EPS. The company's revenue was down 5.3% on a year-over-year basis. Sell-side analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were issued a dividend of $0.07 per share. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Monday, May 19th. Pitney Bowes's dividend payout ratio (DPR) is -30.77%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBI. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th.

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.