Pitney Bowes Inc. $PBI Shares Bought by LSV Asset Management

Key Points

• LSV Asset Management boosted its Pitney Bowes stake by 246.7% in the fourth quarter, ending with 4.2 million shares worth about $44.4 million.
• Wall Street sentiment is mixed but generally positive: the stock has a Moderate Buy consensus with a $15.18 average price target, while recent updates from Goldman Sachs, Truist, JPMorgan, Bank of America, and Citigroup largely kept or improved ratings.
• CEO Kurt James Wolf sold 966,561 shares in May, while the company also cut its quarterly dividend to $0.01 per share, implying an annual yield of just 0.3%.

LSV Asset Management grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 246.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,197,189 shares of the technology company's stock after purchasing an additional 2,986,689 shares during the quarter. LSV Asset Management owned approximately 2.61% of Pitney Bowes worth $44,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after acquiring an additional 1,015 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Pitney Bowes during the second quarter worth approximately $51,000. Copeland Capital Management LLC purchased a new position in shares of Pitney Bowes during the fourth quarter worth approximately $65,000. United Services Automobile Association purchased a new position in shares of Pitney Bowes during the first quarter worth approximately $96,000. Finally, PFG Investments LLC purchased a new position in shares of Pitney Bowes during the third quarter worth approximately $127,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PBI. The Goldman Sachs Group set a $15.20 price objective on shares of Pitney Bowes in a research report on Friday, May 8th. Truist Financial lifted their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Thursday, May 7th. Citizens Jmp lifted their price objective on shares of Pitney Bowes from $13.00 to $14.00 and gave the company a "market outperform" rating in a research report on Friday, April 17th. Bank of America upgraded shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Finally, Citigroup reiterated an "outperform" rating on shares of Pitney Bowes in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.18.

Insider Transactions at Pitney Bowes

In other news, CEO Kurt James Wolf sold 966,561 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the completion of the sale, the chief executive officer directly owned 452,628 shares in the company, valued at approximately $6,599,316.24. This trade represents a 68.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brent D. Rosenthal purchased 4,000 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director directly owned 9,000 shares in the company, valued at approximately $91,980. This represents a 80.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 2,306,054 shares of company stock valued at $33,319,180 in the last quarter. Insiders own 6.50% of the company's stock.

Pitney Bowes Price Performance

NYSE:PBI opened at $15.29 on Monday. The firm's fifty day moving average price is $13.02 and its 200 day moving average price is $11.21. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $16.56. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.68 and a beta of 1.64.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same period in the previous year, the firm earned $0.33 EPS. The business's revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, May 18th. Pitney Bowes's dividend payout ratio (DPR) is currently 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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