Deutsche Bank AG Buys 707,133 Shares of Pitney Bowes Inc. (NYSE:PBI)

Key Points

• Deutsche Bank AG significantly increased its holdings in Pitney Bowes by 493.1%, owning 850,538 shares worth approximately $7.7 million as of its latest SEC filing.
• Pitney Bowes reported **earnings per share of $0.27** for the last quarter, meeting analysts' expectations, but experienced a **5.7% decline in revenue** year-over-year.
• The company also authorized a **$400 million share buyback program**, indicating management's belief that the stock is undervalued.

Deutsche Bank AG increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 493.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,538 shares of the technology company's stock after acquiring an additional 707,133 shares during the period. Deutsche Bank AG owned about 0.46% of Pitney Bowes worth $7,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Assets Inc. lifted its holdings in Pitney Bowes by 80.6% during the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock worth $941,000 after buying an additional 58,000 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Pitney Bowes by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 126,424 shares of the technology company's stock valued at $915,000 after buying an additional 18,373 shares during the last quarter. Bank of Montreal Can grew its position in Pitney Bowes by 8.6% in the fourth quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock worth $270,000 after buying an additional 2,962 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Pitney Bowes in the 4th quarter valued at $358,000. Finally, Raymond James Financial Inc. bought a new position in shares of Pitney Bowes during the 4th quarter worth about $1,068,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the transaction, the executive vice president directly owned 115,405 shares in the company, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PBI shares. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th.

Pitney Bowes Trading Up 0.7%

PBI stock traded up $0.08 during mid-day trading on Friday, hitting $11.29. The stock had a trading volume of 2,361,764 shares, compared to its average volume of 4,284,728. The firm has a market capitalization of $1.94 billion, a P/E ratio of -18.82, a P/E/G ratio of 0.58 and a beta of 1.54. The firm has a fifty day simple moving average of $11.22 and a 200 day simple moving average of $9.99. Pitney Bowes Inc. has a 52 week low of $6.22 and a 52 week high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company had revenue of $461.91 million for the quarter, compared to the consensus estimate of $475.92 million. During the same quarter in the previous year, the company earned $0.03 EPS. Pitney Bowes's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes declared that its board has initiated a stock repurchase program on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 18.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.8%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date is Monday, August 11th. Pitney Bowes's dividend payout ratio (DPR) is currently -53.33%.

Pitney Bowes Company Profile

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.