Federated Hermes Inc. Has $4.69 Million Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Federated Hermes Inc. boosted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 407.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 518,220 shares of the technology company's stock after purchasing an additional 416,023 shares during the quarter. Federated Hermes Inc. owned about 0.28% of Pitney Bowes worth $4,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBI. KBC Group NV bought a new position in Pitney Bowes during the first quarter valued at about $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pitney Bowes during the 1st quarter worth $98,000. PharVision Advisers LLC acquired a new position in Pitney Bowes during the 4th quarter worth $107,000. PFG Investments LLC lifted its holdings in Pitney Bowes by 14.6% during the 1st 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Pitney Bowes during the 1st quarter worth $124,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm'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 owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Pitney Bowes Stock Down 2.7%

Shares of PBI traded down $0.31 during trading hours on Tuesday, reaching $11.22. The stock had a trading volume of 3,553,909 shares, compared to its average volume of 3,469,307. Pitney Bowes Inc. has a 52 week low of $5.58 and a 52 week high of $13.11. The firm has a 50-day moving average of $11.06 and a 200 day moving average of $9.81. The company has a market cap of $1.93 billion, a P/E ratio of -18.70, a P/E/G ratio of 0.60 and a beta of 1.54.

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, meeting analysts' consensus estimates of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The business had revenue of $461.91 million during the quarter, compared to analysts' expectations of $475.92 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes declared that its board has authorized a stock buyback program on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be given a dividend of $0.08 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 11th. Pitney Bowes's payout ratio is currently -46.67%.

About Pitney Bowes

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.