Assenagon Asset Management S.A. Reduces Holdings in Pitney Bowes Inc. $PBI

Key Points

• Assenagon Asset Management cut its Pitney Bowes stake by 97.5% in the second quarter, selling 1.45 million shares and retaining 36,573 shares valued at $641,000. Institutional investors collectively own 67.88% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $18.45; Citizens JMP raised its target to $22.00 and Zacks upgraded the stock to “strong buy.”
• Pitney Bowes beat quarterly EPS expectations, reporting $0.43 versus the $0.34 consensus, though revenue fell 2.4% year over year. The stock opened at $16.40, while insiders sold more than 2.47 million shares worth approximately $43.3 million over the past three months.

Assenagon Asset Management S.A. trimmed its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 97.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,573 shares of the technology company's stock after selling 1,447,863 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Pitney Bowes were worth $641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock valued at $38,000 after purchasing an additional 1,015 shares during the period. Advisory Services Network LLC raised its stake in Pitney Bowes by 2.4% during the 3rd quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company's stock worth $604,000 after acquiring an additional 1,234 shares during the period. Baird Financial Group Inc. lifted its holdings in Pitney Bowes by 12.5% during the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company's stock valued at $144,000 after purchasing an additional 1,459 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Pitney Bowes by 3.0% during the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company's stock valued at $690,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Pitney Bowes by 13.5% in the third quarter. Creative Planning now owns 18,402 shares of the technology company's stock worth $210,000 after purchasing an additional 2,188 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PBI. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $17.30 target price on shares of Pitney Bowes in a report on Thursday, July 30th. Citizens Jmp increased their price objective on shares of Pitney Bowes from $19.00 to $22.00 and gave the company a "market outperform" rating in a report on Friday, July 31st. Wall Street Zen upgraded shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Citigroup reiterated a "market outperform" rating on shares of Pitney Bowes in a report on Friday, July 31st. Finally, Zacks Research raised shares of Pitney Bowes from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Pitney Bowes has a consensus rating of "Moderate Buy" and a consensus price target of $18.45.

• Pitney Bowes NYSE: PBI is Surging, Is it Too Risky?

Pitney Bowes Trading Down 1.5%

Shares of NYSE:PBI opened at $16.40 on Friday. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $19.07. The company has a 50-day moving average price of $17.53 and a 200 day moving average price of $14.25. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 0.66 and a beta of 1.63.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.34 by $0.09. Pitney Bowes had a negative return on equity of 31.37% and a net margin of 10.04%.The company had revenue of $451.50 million during the quarter, compared to analyst estimates of $453.94 million. During the same quarter last year, the business posted $0.27 earnings per share. The firm's revenue was down 2.4% on a year-over-year basis. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. As a group, equities analysts forecast that Pitney Bowes Inc. will post 1.68 EPS for the current year.

Pitney Bowes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, August 10th. Pitney Bowes's dividend payout ratio is 32.79%.

Insiders Place Their Bets

In other Pitney Bowes news, CEO Kurt James Wolf sold 413,266 shares of Pitney Bowes stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $18.11, for a total transaction of $7,484,247.26. Following the completion of the sale, the chief executive officer directly owned 122,963 shares of the company's stock, valued at $2,226,859.93. The trade was a 77.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Todd A. Everett sold 25,000 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $18.07, for a total value of $451,750.00. Following the completion of the sale, the executive vice president owned 96,048 shares of the company's stock, valued at $1,735,587.36. This represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,476,376 shares of company stock valued at $43,266,688 over the last three months. Insiders own 6.50% of the company's stock.

Pitney Bowes Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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