Range Financial Group LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 106,385 shares of the technology company's stock, valued at approximately $963,000. Range Financial Group LLC owned 0.06% of Pitney Bowes at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in PBI. Meeder Asset Management Inc. acquired a new position in Pitney Bowes in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings in shares of Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock worth $37,000 after purchasing an additional 2,873 shares during the period. Xponance Inc. grew its holdings in shares of Pitney Bowes by 36.7% during the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock worth $103,000 after purchasing an additional 3,837 shares during the period. PharVision Advisers LLC acquired a new position in Pitney Bowes in the 4th quarter valued at about $107,000. Finally, Cibc World Markets Corp acquired a new position in Pitney Bowes in the 4th quarter valued at about $110,000. 67.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PBI has been the subject of several recent research reports. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a "hold" rating in a research note on Monday, May 5th.
Get Our Latest Stock Report on PBI
Pitney Bowes Trading Up 1.9%
NYSE:PBI opened at $10.52 on Monday. The firm has a market cap of $1.93 billion, a P/E ratio of -9.39, a PEG ratio of 0.59 and a beta of 1.61. The stock's 50 day simple moving average is $9.02 and its 200-day simple moving average is $8.75. Pitney Bowes Inc. has a 12-month low of $4.62 and a 12-month high of $11.01.
Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's dividend payout ratio is currently -30.77%.
About Pitney Bowes
(
Free Report)
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.
Further Reading
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