HB Wealth Management LLC grew its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 95.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,093 shares of the technology company's stock after buying an additional 29,279 shares during the period. HB Wealth Management LLC's holdings in Pitney Bowes were worth $656,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of PBI. Alyeska Investment Group L.P. bought a new position in Pitney Bowes in the 1st quarter worth about $11,032,000. Invesco Ltd. boosted its stake in Pitney Bowes by 38.9% in the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company's stock worth $26,415,000 after purchasing an additional 817,953 shares in the last quarter. Deutsche Bank AG boosted its stake in Pitney Bowes by 493.1% in the 1st quarter. Deutsche Bank AG now owns 850,538 shares of the technology company's stock worth $7,697,000 after purchasing an additional 707,133 shares in the last quarter. AQR Capital Management LLC boosted its stake in Pitney Bowes by 2,074.5% in the 1st quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company's stock worth $6,593,000 after purchasing an additional 694,982 shares in the last quarter. Finally, Nuveen LLC bought a new position in Pitney Bowes in the 1st quarter worth about $5,322,000. Institutional investors own 67.88% of the company's stock.
Insiders Place Their Bets
In related news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the transaction, the director directly owned 3,000 shares in the company, valued at $35,910. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the sale, the executive vice president owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.00% of the stock is owned by company insiders.
Pitney Bowes Trading Down 1.5%
Pitney Bowes stock opened at $11.11 on Friday. Pitney Bowes Inc. has a 12-month low of $6.66 and a 12-month high of $13.11. The firm has a 50 day moving average of $11.62 and a 200 day moving average of $10.46. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -18.51, a P/E/G ratio of 0.57 and a beta of 1.27.
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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. The business had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company's revenue was down 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.
Pitney Bowes declared that its board has initiated a stock repurchase plan on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 18.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Pitney Bowes Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 11th were given a $0.08 dividend. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, August 11th. Pitney Bowes's dividend payout ratio is -53.33%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on PBI shares. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Pitney Bowes in a research note on Saturday, September 27th. 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 a consensus rating of "Reduce".
View Our Latest Research Report on Pitney Bowes
Pitney Bowes 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.
Further Reading

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