Pitney Bowes Inc. (NYSE:PBI) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,519,611 shares of the technology company's stock after selling 56,557 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Pitney Bowes worth $13,752,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in Pitney Bowes during the fourth quarter worth $31,000. KBC Group NV acquired a new stake in Pitney Bowes during the first quarter worth approximately $65,000. Xponance Inc. grew its stake in Pitney Bowes by 36.7% in the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock worth $103,000 after acquiring an additional 3,837 shares during the period. PharVision Advisers LLC acquired a new position in Pitney Bowes in the 4th quarter valued at $107,000. Finally, Cibc World Markets Corp acquired a new position in Pitney Bowes in the 4th quarter valued at $110,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the company'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 directly owned 115,405 shares in the company, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.00% of the stock is owned by insiders.

Pitney Bowes Price Performance

NYSE:PBI traded up $0.40 during trading hours on Monday, reaching $12.43. 3,457,515 shares of the company were exchanged, compared to its average volume of 2,177,582. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -13.65, a PEG ratio of 0.64 and a beta of 1.60. The stock has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $9.43. Pitney Bowes Inc. has a 52-week low of $5.58 and a 52-week high of $12.66.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $493.42 million during the quarter, compared to analyst estimates of $498.99 million. Pitney Bowes had a negative return on equity of 31.61% and a negative net margin of 7.18%. The firm's revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, May 19th. This is a boost from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's payout ratio is currently -30.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PBI. Wall Street Zen downgraded 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 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.