Envestnet Portfolio Solutions Inc. Acquires 52,517 Shares of Pitney Bowes Inc. $PBI

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Pitney Bowes Inc. by 204.5%, acquiring an additional 52,517 shares, bringing its total ownership to 78,200 shares valued at approximately $853,000.
• Pitney Bowes announced a $400 million share repurchase program, indicating confidence in its stock's value, alongside an increase in its quarterly dividend from $0.07 to $0.08 per share.
• As of the most recent quarter, institutional ownership of Pitney Bowes stands at 67.88%, reflecting strong interest from institutional investors in the company.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 204.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,200 shares of the technology company's stock after acquiring an additional 52,517 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Pitney Bowes were worth $853,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trail Ridge Investment Advisors LLC bought a new position in shares of Pitney Bowes during the first quarter worth approximately $267,000. Cambridge Investment Research Advisors Inc. grew its position in Pitney Bowes by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company's stock worth $547,000 after buying an additional 4,866 shares in the last quarter. GAMMA Investing LLC increased its stake in Pitney Bowes by 1,030.5% during the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company's stock worth $278,000 after acquiring an additional 27,999 shares during the period. Vanguard Group Inc. raised its holdings in Pitney Bowes by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company's stock valued at $192,890,000 after acquiring an additional 151,353 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Pitney Bowes by 186.6% during the 1st quarter. Xponance Inc. now owns 40,929 shares of the technology company's stock valued at $370,000 after acquiring an additional 26,646 shares during the period. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Buying and Selling at Pitney Bowes

In related news, Director Brent D. Rosenthal bought 3,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the purchase, the director owned 3,000 shares in the company, valued at $35,910. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 9.00% of the company's stock.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $11.26 on Monday. Pitney Bowes Inc. has a 52 week low of $6.88 and a 52 week high of $13.11. The stock has a market capitalization of $1.94 billion, a P/E ratio of -18.77, a price-to-earnings-growth ratio of 0.58 and a beta of 1.27. The stock has a fifty day moving average of $11.56 and a 200-day moving average of $10.60.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting 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 firm had revenue of $461.91 million during the quarter, compared to analysts' expectations of $475.92 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes announced that its Board of Directors has authorized a share repurchase program on Wednesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were given a $0.08 dividend. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, August 11th. Pitney Bowes's dividend payout ratio (DPR) is -53.33%.

Analyst Ratings Changes

A number of brokerages recently commented on PBI. Weiss Ratings restated a "sell (d)" rating on shares of Pitney Bowes in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce".

Pitney Bowes 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.

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