38,066 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC invested approximately $344,000 in Pitney Bowes Inc. during the first quarter, purchasing 38,066 shares of the technology company.
• Pitney Bowes recently announced a quarterly dividend increase from $0.07 to $0.08 per share, which reflects a 2.9% yield.
• The company has authorized a share buyback program of up to $400 million, demonstrating the board's belief that the shares are undervalued.

Natixis Advisors LLC purchased a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,066 shares of the technology company's stock, valued at approximately $344,000.

A number of other institutional investors also recently bought and sold shares of PBI. PFG Investments LLC increased 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. Federated Hermes Inc. boosted its stake in shares of Pitney Bowes by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock worth $740,000 after acquiring an additional 2,711 shares during the last quarter. Bank of Montreal Can raised its position in shares of Pitney Bowes by 8.6% during the 4th quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock valued at $270,000 after purchasing an additional 2,962 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pitney Bowes by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,275 shares of the technology company's stock valued at $668,000 after purchasing an additional 3,904 shares during the period. Finally, Corton Capital Inc. raised its position in shares of Pitney Bowes by 16.9% during the 4th quarter. Corton Capital Inc. now owns 30,456 shares of the technology company's stock valued at $221,000 after purchasing an additional 4,407 shares during the period. 67.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the sale, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PBI shares. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th.

Pitney Bowes Trading Up 0.0%

Shares of PBI stock traded up $0.01 during trading hours on Friday, hitting $11.22. The company's stock had a trading volume of 1,078,608 shares, compared to its average volume of 2,628,395. The company has a 50 day moving average of $11.21 and a 200 day moving average of $9.95. The stock has a market cap of $1.93 billion, a PE ratio of -18.63, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. Pitney Bowes Inc. has a 12-month low of $6.22 and a 12-month high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $461.91 million for 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 firm's revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. As a group, analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock buyback plans are typically an indication 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 will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be given a dividend of $0.08 per share. 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 dividend yield of 2.9%. The ex-dividend date is Monday, August 11th. Pitney Bowes's dividend payout ratio (DPR) is -53.33%.

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.