GSA Capital Partners LLP Makes New $967,000 Investment in Pitney Bowes Inc. (NYSE:PBI)

Key Points

• GSA Capital Partners LLP made a new investment of $967,000 in Pitney Bowes Inc. by acquiring 106,905 shares during the first quarter.
• The company's Board of Directors has approved a share repurchase plan allowing for the repurchase of up to $400 million in shares, indicative of a belief that the stock is undervalued.
• Pitney Bowes recently declared an increase in its quarterly dividend to $0.08, reflecting a commitment to return value to shareholders despite a negative net margin.

GSA Capital Partners LLP purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 106,905 shares of the technology company's stock, valued at approximately $967,000. GSA Capital Partners LLP owned 0.06% of Pitney Bowes at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Trail Ridge Investment Advisors LLC acquired a new position in Pitney Bowes in the 1st quarter worth $267,000. Bank of America Corp DE lifted its holdings in Pitney Bowes by 43.0% in the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after buying an additional 280,402 shares in the last quarter. American Assets Inc. lifted its holdings in Pitney Bowes by 80.6% in 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 in the last quarter. Man Group plc lifted its holdings in Pitney Bowes by 76.1% in the 4th quarter. Man Group plc now owns 101,142 shares of the technology company's stock worth $732,000 after buying an additional 43,694 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Pitney Bowes by 1,030.5% in the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company's stock worth $278,000 after buying an additional 27,999 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares in the company, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.00% of the company's stock.

Pitney Bowes Price Performance

Shares of NYSE:PBI traded down $0.09 during trading on Friday, reaching $11.27. 3,924,456 shares of the company's stock traded hands, compared to its average volume of 3,243,312. Pitney Bowes Inc. has a 12 month low of $5.58 and a 12 month high of $13.11. The company has a 50 day moving average of $10.99 and a 200-day moving average of $9.70. The stock has a market capitalization of $2.06 billion, a P/E ratio of -18.78, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share 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 business had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. Equities research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes declared that its board has approved a stock repurchase program on Wednesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be given a $0.08 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date is Monday, August 11th. This represents a $0.32 annualized dividend and a yield of 2.8%. Pitney Bowes's payout ratio is currently -30.77%.

Wall Street Analyst Weigh In

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

About Pitney Bowes

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.