Vanguard Group Inc. Has $192.89 Million Stock Holdings in Pitney Bowes Inc. $PBI

Key Points

• Vanguard Group Inc. increased its stake in Pitney Bowes Inc. by 0.7%, acquiring an additional 151,353 shares, bringing its total to over 21 million shares valued at approximately $192.89 million.
• The company announced a new $400 million share repurchase program, indicating confidence in its stock being undervalued, while also declaring a quarterly dividend increase to $0.08 per share.
• Pitney Bowes has reported a negative return on equity of 38.01% and a revenue decline of 5.7% year-over-year, raising concerns among analysts despite meeting earnings expectations.

Vanguard Group Inc. raised its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,313,865 shares of the technology company's stock after purchasing an additional 151,353 shares during the period. Vanguard Group Inc. owned 11.65% of Pitney Bowes worth $192,890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV acquired a new position in Pitney Bowes during the first quarter valued at approximately $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pitney Bowes during the first quarter valued at approximately $98,000. PFG Investments LLC grew its holdings in Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after purchasing an additional 1,644 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Pitney Bowes during the first quarter valued at approximately $124,000. Finally, PharVision Advisers LLC acquired a new position in Pitney Bowes during the fourth quarter valued at approximately $107,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the 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 transaction, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. This represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PBI has been the topic of several analyst reports. Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Friday. Sidoti raised Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Pitney Bowes presently has a consensus rating of "Hold".

Pitney Bowes Stock Up 4.9%

Pitney Bowes stock traded up $0.58 during mid-day trading on Monday, hitting $12.40. 3,829,870 shares of the company were exchanged, compared to its average volume of 4,168,027. The business has a fifty day moving average of $11.36 and a 200 day moving average of $10.11. Pitney Bowes Inc. has a 1-year low of $6.22 and a 1-year high of $13.11. The company has a market capitalization of $2.13 billion, a PE ratio of -20.67, a price-to-earnings-growth ratio of 0.61 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The firm had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. During the same period in the prior year, the company posted $0.03 earnings per share. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

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

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.08 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 11th. Pitney Bowes's dividend payout ratio is currently -53.33%.

About Pitney Bowes

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.