BNP Paribas Financial Markets decreased its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,129 shares of the technology company's stock after selling 132,040 shares during the period. BNP Paribas Financial Markets' holdings in Pitney Bowes were worth $558,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PBI. Algert Global LLC lifted its holdings in shares of Pitney Bowes by 78.0% during the 4th quarter. Algert Global LLC now owns 613,843 shares of the technology company's stock valued at $4,444,000 after buying an additional 269,014 shares during the last quarter. Voleon Capital Management LP bought a new position in Pitney Bowes during the fourth quarter valued at approximately $1,152,000. PDT Partners LLC acquired a new stake in Pitney Bowes in the fourth quarter valued at approximately $992,000. Schonfeld Strategic Advisors LLC bought a new stake in Pitney Bowes in the fourth quarter worth approximately $154,000. Finally, Aquatic Capital Management LLC bought a new stake in Pitney Bowes in the fourth quarter worth approximately $476,000. Hedge funds and other institutional investors own 67.88% of the company's stock.
Insiders Place Their Bets
In related news, EVP James Arthur Fairweather sold 130,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the sale, the executive vice president now owns 176,145 shares in the company, valued at approximately $1,907,650.35. This trade represents a 42.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kurt James Wolf sold 481,199 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the transaction, the director now owns 584,636 shares in the company, valued at $6,296,529.72. This represents a 45.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 613,244 shares of company stock valued at $6,607,591 in the last quarter. Insiders own 9.00% of the company's stock.
Pitney Bowes Price Performance
Shares of PBI stock traded up $0.48 during trading on Tuesday, reaching $10.50. The company had a trading volume of 3,230,596 shares, compared to its average volume of 2,117,295. The firm's 50 day simple moving average is $8.85 and its two-hundred day simple moving average is $8.58. Pitney Bowes Inc. has a one year low of $4.62 and a one year high of $11.01. The company has a market capitalization of $1.92 billion, a PE ratio of -9.37, a PEG ratio of 0.59 and a beta of 1.47.
Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The company had revenue of $493.42 million for the quarter, compared to the consensus estimate of $498.99 million. During the same quarter last year, the company posted ($0.01) earnings per share. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.
Pitney Bowes Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, May 19th. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's dividend payout ratio (DPR) is -30.77%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on PBI shares. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th.
Get Our Latest Stock Report on PBI
Pitney Bowes Company Profile
(
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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