State of Wyoming Sells 55,917 Shares of Pitney Bowes Inc. (NYSE:PBI)

State of Wyoming decreased its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 83.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,830 shares of the technology company's stock after selling 55,917 shares during the period. State of Wyoming's holdings in Pitney Bowes were worth $78,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Pitney Bowes by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after buying an additional 1,299,716 shares during the period. Hestia Capital Management LLC acquired a new stake in Pitney Bowes during the fourth quarter worth approximately $114,326,000. Millennium Management LLC boosted its holdings in shares of Pitney Bowes by 103.0% during the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock worth $9,189,000 after acquiring an additional 644,002 shares during the period. Bank of America Corp DE grew its position in shares of Pitney Bowes by 43.0% in the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock valued at $6,752,000 after purchasing an additional 280,402 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Pitney Bowes by 33.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 880,300 shares of the technology company's stock valued at $6,373,000 after purchasing an additional 221,300 shares during the last quarter. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Price Performance

Pitney Bowes stock traded up $0.07 during midday trading on Friday, hitting $10.31. The company's stock had a trading volume of 1,798,151 shares, compared to its average volume of 2,120,895. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -9.21, a PEG ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a 1-year low of $4.62 and a 1-year high of $11.01. The company has a 50-day moving average price of $8.92 and a two-hundred day moving average price of $8.64.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $498.99 million. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The business's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. Sell-side analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Monday, May 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date is Monday, May 19th. Pitney Bowes's dividend payout ratio is presently -30.77%.

Insider Transactions at Pitney Bowes

In other news, Director Kurt James Wolf sold 481,199 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the transaction, the director now directly owns 584,636 shares in the company, valued at approximately $6,296,529.72. The trade was a 45.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.