American Assets Investment Management LLC purchased a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 130,000 shares of the technology company's stock, valued at approximately $941,000. American Assets Investment Management LLC owned approximately 0.07% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in PBI. James J. Burns & Company LLC lifted its holdings in shares of Pitney Bowes by 9.7% during the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company's stock worth $135,000 after purchasing an additional 1,637 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock worth $130,000 after purchasing an additional 1,878 shares during the period. First Citizens Bank & Trust Co. raised its position in Pitney Bowes by 10.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock valued at $150,000 after acquiring an additional 2,020 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Pitney Bowes by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock valued at $740,000 after buying an additional 2,711 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after buying an additional 2,873 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.
Insider Buying and Selling
In related news, Director Kurt James Wolf sold 481,199 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the completion of the sale, the director now directly owns 584,636 shares in the company, valued at approximately $6,296,529.72. This trade represents a 45.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have 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 report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a report on Monday, May 5th.
Check Out Our Latest Research Report on Pitney Bowes
Pitney Bowes Trading Down 0.9%
PBI traded down $0.09 during midday trading on Thursday, hitting $10.23. 1,938,108 shares of the company traded hands, compared to its average volume of 2,119,444. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -9.13, a PEG ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a 52-week low of $4.62 and a 52-week high of $11.01. The business has a 50 day simple moving average of $8.90 and a two-hundred day simple moving average of $8.62.
Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $493.42 million for the quarter, compared to the consensus estimate of $498.99 million. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The company's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be given a dividend of $0.07 per share. This is a boost from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, May 19th. Pitney Bowes's dividend payout ratio (DPR) is presently -30.77%.
Pitney Bowes Profile
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Free Report)
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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