Bank of New York Mellon Corp Makes New $28.68 Million Investment in Pitney Bowes Inc. $PBI

Key Points

• Bank of New York Mellon invested $28.68 million in Pitney Bowes during the second quarter, acquiring 1.64 million shares and holding approximately 1.19% of the company. Institutional investors collectively own 67.88% of outstanding shares.
• Pitney Bowes reported quarterly EPS of $0.43, beating analyst expectations of $0.34, although revenue declined 2.4% year over year to $451.5 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $18.45.
• Insiders sold 2.42 million shares worth $42.3 million over the past 90 days, including significant sales by the CEO and an executive vice president. The company also declared a quarterly dividend of $0.01 per share.

Bank of New York Mellon Corp purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,637,182 shares of the technology company's stock, valued at approximately $28,683,000. Bank of New York Mellon Corp owned about 1.19% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBI. Longview Financial Advisors Inc. acquired a new position in Pitney Bowes in the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after purchasing an additional 1,015 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Pitney Bowes by 190.9% during the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock worth $40,000 after purchasing an additional 2,459 shares during the last quarter. UMB Bank n.a. increased its position in Pitney Bowes by 404.6% in the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock valued at $43,000 after acquiring an additional 3,225 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Pitney Bowes during the 2nd quarter worth $51,000. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Trading Down 0.2%

Shares of NYSE PBI opened at $17.23 on Friday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 0.69 and a beta of 1.63. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $19.07. The stock's 50-day moving average is $17.41 and its 200 day moving average is $14.68.

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

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.09. Pitney Bowes had a net margin of 10.04% and a negative return on equity of 31.37%. The firm had revenue of $451.50 million during the quarter, compared to analyst estimates of $453.94 million. During the same period in the previous year, the business posted $0.27 EPS. The business's quarterly 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. On average, analysts forecast that Pitney Bowes Inc. will post 1.68 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pitney Bowes's dividend payout ratio is currently 32.79%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PBI. Weiss Ratings raised shares of Pitney Bowes from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 31st. Truist Financial increased their target price on shares of Pitney Bowes from $15.00 to $18.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Bank of America upgraded shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Citigroup reiterated a "market outperform" rating on shares of Pitney Bowes in a research note on Friday, July 31st. Finally, Citizens Jmp increased their price objective on Pitney Bowes from $19.00 to $22.00 and gave the company a "market outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.45.

Insider Buying and Selling

In other Pitney Bowes news, EVP Todd A. Everett sold 25,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,735,587.36. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kurt James Wolf sold 430,443 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $18.23, for a total transaction of $7,846,975.89. Following the sale, the chief executive officer owned 179,190 shares of the company's stock, valued at $3,266,633.70. This represents a 70.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,417,150 shares of company stock worth $42,333,327 over the last ninety days. Insiders own 6.50% of the company's stock.

Pitney Bowes Company 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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