Informed Momentum Co LLC Acquires Shares of 366,440 Pitney Bowes Inc. (NYSE:PBI)

Key Points

• Informed Momentum Co LLC has invested $3.32 million in Pitney Bowes Inc., acquiring approximately 366,440 shares, representing about 0.20% of the company's total stock.
• Pitney Bowes recently announced a quarterly dividend increase to $0.08 per share, reflecting a boost from the previous $0.07 quarterly dividend, and a total annualized dividend yield of 2.9%.
• The company's board has authorized a share repurchase plan allowing for the purchase of up to 18.9% of the outstanding shares, indicating a belief that the stock is undervalued.

Informed Momentum Co LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 366,440 shares of the technology company's stock, valued at approximately $3,316,000. Informed Momentum Co LLC owned 0.20% of Pitney Bowes at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PBI. KBC Group NV purchased a new position in Pitney Bowes during the first quarter worth about $65,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Pitney Bowes during the first quarter worth about $98,000. PharVision Advisers LLC purchased a new position in Pitney Bowes during the fourth quarter worth about $107,000. PFG Investments LLC lifted its position in Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after buying an additional 1,644 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Pitney Bowes during the first quarter worth about $124,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pitney Bowes Trading Down 3.1%

Shares of Pitney Bowes stock traded down $0.35 during trading hours on Thursday, reaching $11.22. The stock had a trading volume of 2,331,880 shares, compared to its average volume of 2,638,608. The firm has a 50 day simple moving average of $11.21 and a two-hundred day simple moving average of $9.95. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -18.70, a P/E/G ratio of 0.59 and a beta of 1.54. Pitney Bowes Inc. has a 1 year low of $6.22 and a 1 year high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting analysts' consensus estimates of $0.27. The company had revenue of $461.91 million for the quarter, compared to the consensus estimate of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%. The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. Sell-side analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 11th. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's dividend payout ratio (DPR) is -53.33%.

Pitney Bowes announced that its Board of Directors has approved a stock repurchase plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 18.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the sale, the executive vice president directly owned 115,405 shares in the company, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.00% of the company's stock.

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.