Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 103.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,269,207 shares of the technology company's stock after buying an additional 644,002 shares during the period. Millennium Management LLC owned approximately 0.70% of Pitney Bowes worth $9,189,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hestia Capital Management LLC bought a new position in Pitney Bowes during the fourth quarter valued at $114,326,000. Vanguard Group Inc. boosted its stake in shares of Pitney Bowes by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after purchasing an additional 1,299,716 shares during the period. First Trust Advisors LP bought a new position in Pitney Bowes during the 4th quarter valued at about $6,245,000. PEAK6 LLC bought a new position in Pitney Bowes during the 4th quarter valued at about $3,547,000. Finally, Victory Capital Management Inc. raised its position in Pitney Bowes by 1,356.4% in the 4th quarter. Victory Capital Management Inc. now owns 474,107 shares of the technology company's stock worth $3,433,000 after purchasing an additional 441,553 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Stock Up 1.3%

NYSE:PBI traded up $0.14 during mid-day trading on Friday, reaching $10.38. The company's stock had a trading volume of 313,386 shares, compared to its average volume of 2,112,545. The firm has a market capitalization of $1.90 billion, a PE ratio of -9.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a 1 year low of $4.62 and a 1 year high of $11.01. The stock has a fifty day moving average of $8.90 and a 200-day moving average of $8.62.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The firm had revenue of $493.42 million during the quarter, compared to analyst estimates of $498.99 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be given a $0.07 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, May 19th. Pitney Bowes's dividend payout ratio (DPR) is presently -30.77%.

Insider Buying and Selling

In other news, Director Kurt James Wolf sold 481,199 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the transaction, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. This trade represents a 45.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a "hold" rating in a report on Monday, May 5th.

Pitney Bowes Company 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.