American Assets Investment Management LLC purchased a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 130,000 shares of the technology company's stock, valued at approximately $941,000. American Assets Investment Management LLC owned 0.07% of Pitney Bowes at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of Pitney Bowes by 495.7% in the 4th quarter. Mackenzie Financial Corp now owns 67,558 shares of the technology company's stock valued at $489,000 after buying an additional 56,217 shares during the period. PharVision Advisers LLC purchased a new position in Pitney Bowes during the fourth quarter valued at approximately $107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Pitney Bowes by 7.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,051 shares of the technology company's stock valued at $2,882,000 after acquiring an additional 27,629 shares during the period. Two Sigma Investments LP boosted its position in Pitney Bowes by 1.2% in the 4th quarter. Two Sigma Investments LP now owns 807,414 shares of the technology company's stock worth $5,846,000 after purchasing an additional 9,471 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Pitney Bowes by 46.1% during the 4th quarter. ProShare Advisors LLC now owns 48,813 shares of the technology company's stock worth $353,000 after purchasing an additional 15,399 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. 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. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th.
Read Our Latest Stock Report on Pitney Bowes
Pitney Bowes Trading Up 0.7%
PBI traded up $0.07 during trading on Friday, hitting $10.31. The company's stock had a trading volume of 1,798,151 shares, compared to its average volume of 2,124,550. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -9.21, a P/E/G ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a twelve month low of $4.62 and a twelve month high of $11.01. The business's fifty day simple moving average is $8.92 and its 200 day simple moving average is $8.65.
Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $493.42 million for the quarter, compared to analysts' expectations of $498.99 million. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's payout ratio is currently -30.77%.
Insider Buying and Selling
In related news, Director Kurt James Wolf sold 481,199 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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. The trade was a 45.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.00% of the company's stock.
About Pitney Bowes
(
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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