Trexquant Investment LP Acquires New Shares in Pitney Bowes Inc. $PBI

Key Points

• Trexquant Investment LP invested approximately $1.69 million in Pitney Bowes Inc., acquiring 186,242 shares and owning about 0.10% of the company as of the latest reporting period.
• Pitney Bowes has announced a quarterly dividend increase to $0.08 per share, up from $0.07, reflecting confidence in its financial stability.
• The company's Board of Directors initiated a $400 million share repurchase program, suggesting that they believe the stock is undervalued.

Trexquant Investment LP acquired a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 186,242 shares of the technology company's stock, valued at approximately $1,685,000. Trexquant Investment LP owned approximately 0.10% of Pitney Bowes at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PBI. Quantbot Technologies LP bought a new position in shares of Pitney Bowes in the first quarter worth $36,000. KBC Group NV bought a new position in Pitney Bowes in the 1st quarter valued at about $65,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Pitney Bowes in the 1st quarter valued at about $98,000. PharVision Advisers LLC bought a new position in Pitney Bowes in the 4th quarter valued at about $107,000. Finally, PFG Investments LLC boosted its holdings in shares of Pitney Bowes by 14.6% in the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after acquiring an additional 1,644 shares in the last quarter. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded down $0.20 during midday trading on Wednesday, reaching $11.54. The company had a trading volume of 536,390 shares, compared to its average volume of 2,685,026. Pitney Bowes Inc. has a 1-year low of $6.22 and a 1-year high of $13.11. The company has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $10.26. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -19.20, a price-to-earnings-growth ratio of 0.65 and a beta of 1.29.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting 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 firm had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. During the same quarter last year, the business posted $0.03 EPS. The company's revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, August 11th. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's dividend payout ratio is -53.33%.

Pitney Bowes announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Pitney Bowes currently has a consensus rating of "Hold".

Insiders Place Their Bets

In related news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the sale, 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 the SEC website. Also, Director Brent D. Rosenthal purchased 3,000 shares of Pitney Bowes stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the acquisition, the director owned 3,000 shares in the company, valued at $35,910. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company's stock.

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.