Jupiter Asset Management Ltd. Takes Position in Pitney Bowes Inc. $PBI

Key Points

• Jupiter Asset Management opened a new position in Pitney Bowes in the fourth quarter, buying 150,674 shares worth about $1.59 million and taking roughly 0.09% ownership of the company.
• Insider activity was mixed: Director Brent D. Rosenthal bought 4,000 shares, while CEO Kurt James Wolf sold 966,561 shares. Over the last 90 days, insiders have sold 2.35 million shares total.
• Pitney Bowes reported solid quarterly results, with EPS of $0.47 matching expectations and revenue of $477.4 million topping estimates, though sales were still down 3.2% from a year earlier. The company also cut its quarterly dividend to $0.01 per share.

Jupiter Asset Management Ltd. purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 150,674 shares of the technology company's stock, valued at approximately $1,593,000. Jupiter Asset Management Ltd. owned about 0.09% of Pitney Bowes at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hantz Financial Services Inc. increased its stake in shares of Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock valued at $40,000 after acquiring an additional 2,459 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of Pitney Bowes in the 4th quarter valued at about $133,000. Mizuho Markets Americas LLC increased its stake in shares of Pitney Bowes by 1.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 682,808 shares of the technology company's stock valued at $7,217,000 after acquiring an additional 9,420 shares during the last quarter. LSV Asset Management increased its stake in shares of Pitney Bowes by 246.7% in the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company's stock valued at $44,364,000 after acquiring an additional 2,986,689 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new stake in shares of Pitney Bowes in the 4th quarter valued at about $157,000. 67.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Brent D. Rosenthal purchased 4,000 shares of Pitney Bowes stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $10.22 per share, with a total value of $40,880.00. Following the transaction, the director directly owned 9,000 shares in the company, valued at $91,980. The trade was a 80.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kurt James Wolf sold 966,561 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total value of $14,092,459.38. Following the transaction, the chief executive officer directly owned 452,628 shares of the company's stock, valued at approximately $6,599,316.24. This trade represents a 68.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,346,530 shares of company stock valued at $33,951,416. Insiders own 6.50% of the company's stock.

Pitney Bowes Stock Performance

NYSE PBI opened at $16.10 on Friday. The business has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $11.42. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $16.56. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 0.72 and a beta of 1.64.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business had revenue of $477.41 million during the quarter, compared to analysts' expectations of $471.83 million. During the same period in the prior year, the business earned $0.33 EPS. Pitney Bowes's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes's dividend payout ratio is 38.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial upped their price target on Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. Wall Street Zen raised Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Weiss Ratings raised Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a research note on Friday, May 8th. Finally, Citizens Jmp increased their target price on Pitney Bowes from $13.00 to $14.00 and gave the stock a "market outperform" rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.18.

Pitney Bowes Company Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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