1,218,990 Shares in Pitney Bowes Inc. $PBI Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. acquired a new stake in Pitney Bowes Inc., purchasing 1,218,990 shares valued at approximately $11,032,000, representing 0.67% of the company's stock.
• In a recent insider transaction, EVP Deborah Pfeiffer sold 35,000 shares for $424,900, decreasing her ownership by 23.27%.
• Pitney Bowes announced a $400 million share buyback plan, indicating the management's belief that the stock is undervalued, alongside a dividend increase to $0.08 per share.

Alyeska Investment Group L.P. purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,218,990 shares of the technology company's stock, valued at approximately $11,032,000. Alyeska Investment Group L.P. owned approximately 0.67% of Pitney Bowes as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Pitney Bowes during the 1st quarter worth approximately $2,949,000. Royal Bank of Canada increased its stake in Pitney Bowes by 133.1% during the 1st quarter. Royal Bank of Canada now owns 52,958 shares of the technology company's stock worth $478,000 after buying an additional 30,238 shares in the last quarter. Graham Capital Management L.P. increased its stake in Pitney Bowes by 45.1% during the 1st quarter. Graham Capital Management L.P. now owns 112,411 shares of the technology company's stock worth $1,017,000 after buying an additional 34,921 shares in the last quarter. State of Wyoming increased its stake in Pitney Bowes by 162.4% during the 1st quarter. State of Wyoming now owns 28,413 shares of the technology company's stock worth $257,000 after buying an additional 17,583 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Pitney Bowes during the 1st quarter worth approximately $1,685,000. 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 firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the transaction, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the transaction, the director owned 3,000 shares of the company's stock, valued at approximately $35,910. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Pitney Bowes currently has a consensus rating of "Hold".

Pitney Bowes Stock Performance

Shares of PBI stock traded down $0.35 during trading hours on Wednesday, reaching $11.39. The company had a trading volume of 1,262,184 shares, compared to its average volume of 2,687,665. The stock has a fifty day moving average of $11.70 and a 200-day moving average of $10.26. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -18.98, a PEG ratio of 0.65 and a beta of 1.29. 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 issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share 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 return on equity of 38.01% and a negative net margin of 5.60%.The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes declared that its board has approved a stock repurchase program on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to purchase up to 18.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were given a dividend of $0.08 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, August 11th. Pitney Bowes's dividend payout ratio (DPR) is -53.33%.

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.