Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC reduced its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 29.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,208 shares of the technology company's stock after selling 33,668 shares during the period. Snowden Capital Advisors LLC's holdings in Pitney Bowes were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PBI. Hestia Capital Management LLC acquired a new stake in shares of Pitney Bowes in the 4th quarter worth approximately $114,326,000. Vanguard Group Inc. raised its holdings in shares of Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after acquiring an additional 1,299,716 shares during the period. First Trust Advisors LP acquired a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $6,245,000. Millennium Management LLC increased its stake in Pitney Bowes by 103.0% in the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock valued at $9,189,000 after buying an additional 644,002 shares during the period. Finally, PEAK6 LLC acquired a new position in Pitney Bowes in the 4th quarter valued at approximately $3,547,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $9.22 on Wednesday. The firm has a market cap of $1.69 billion, a PE ratio of -8.23, a P/E/G ratio of 0.59 and a beta of 1.47. The firm's 50 day moving average price is $8.82 and its two-hundred day moving average price is $8.51. Pitney Bowes Inc. has a twelve month low of $4.62 and a twelve month high of $11.01.

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

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.07 per share. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date is Monday, May 19th. This represents a $0.28 annualized dividend and a dividend yield of 3.04%. Pitney Bowes's dividend payout ratio is -30.77%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. StockNews.com lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th.

Insider Transactions at Pitney Bowes

In other news, EVP James Arthur Fairweather sold 130,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the transaction, the executive vice president now owns 176,145 shares in the company, valued at $1,907,650.35. This represents a 42.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kurt James Wolf sold 481,199 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the transaction, the director now owns 584,636 shares in the company, valued at approximately $6,296,529.72. This trade represents a 45.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 613,244 shares of company stock worth $6,607,591 in the last 90 days. 9.00% of the stock is owned by insiders.

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.

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