Hsbc Holdings PLC cut its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 69.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 197,451 shares of the technology company's stock after selling 449,038 shares during the period. Hsbc Holdings PLC owned 0.11% of Pitney Bowes worth $1,808,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Pitney Bowes during the first quarter valued at approximately $36,000. KBC Group NV bought a new position in shares of Pitney Bowes during the first quarter valued at approximately $65,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Pitney Bowes during the first quarter valued at approximately $98,000. PharVision Advisers LLC bought a new position in shares of Pitney Bowes during the fourth quarter valued at approximately $107,000. Finally, PFG Investments LLC boosted its stake in shares of Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after purchasing an additional 1,644 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
PBI has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".
View Our Latest Stock Report on Pitney Bowes
Insider Activity
In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.00% of the company's stock.
Pitney Bowes Stock Performance
PBI traded down $0.14 during trading on Tuesday, hitting $11.98. The stock had a trading volume of 426,332 shares, compared to its average volume of 2,644,305. The company has a market capitalization of $2.06 billion, a PE ratio of -19.96, a PEG ratio of 0.62 and a beta of 1.29. Pitney Bowes Inc. has a twelve month low of $6.22 and a twelve month high of $13.11. The stock has a 50 day simple moving average of $11.54 and a two-hundred day simple moving average of $10.19.
Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.27. The business had revenue of $461.91 million during the quarter, compared to analysts' expectations of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The business's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, equities research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.
Pitney Bowes Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be issued 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 dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 11th. Pitney Bowes's dividend payout ratio is -53.33%.
Pitney Bowes declared that its board has initiated a share buyback 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 usually an indication that the company's management believes its stock is undervalued.
About Pitney Bowes
(
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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