Pitney Bowes Inc. $PBI Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP has decreased its stake in Pitney Bowes Inc. by 39.7%, reducing its ownership to approximately 0.05% valued at $869,000.
• Pitney Bowes has recently declared a quarterly dividend of $0.08 per share, increasing from the previous $0.07, with an annualized yield of 2.7%.
• Institutional ownership of Pitney Bowes stock stands at 67.88%, with various hedge funds increasing their positions in the company.

Voleon Capital Management LP reduced its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 39.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,969 shares of the technology company's stock after selling 63,117 shares during the period. Voleon Capital Management LP owned about 0.05% of Pitney Bowes worth $869,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Pitney Bowes by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company's stock valued at $192,890,000 after acquiring an additional 151,353 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Pitney Bowes by 38.9% in the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company's stock valued at $26,415,000 after acquiring an additional 817,953 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Pitney Bowes by 103.0% in the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock valued at $9,189,000 after acquiring an additional 644,002 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Pitney Bowes in the 1st quarter valued at $11,032,000. Finally, Bank of America Corp DE boosted its holdings in Pitney Bowes by 43.0% during the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after buying an additional 280,402 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal bought 3,000 shares of Pitney Bowes stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the transaction, the director directly owned 3,000 shares of the company's stock, valued at approximately $35,910. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, July 14th. The shares were 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 $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Pitney Bowes Trading Down 0.6%

PBI traded down $0.07 during midday trading on Monday, hitting $11.35. 588,415 shares of the company traded hands, compared to its average volume of 2,686,593. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -18.91, a PEG ratio of 0.59 and a beta of 1.29. Pitney Bowes Inc. has a 52-week low of $6.61 and a 52-week high of $13.11. The business has a 50 day simple moving average of $11.70 and a two-hundred day simple moving average of $10.27.

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

Pitney Bowes announced that its board has initiated a stock buyback program on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to purchase up to 18.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date was Monday, August 11th. Pitney Bowes's dividend payout ratio (DPR) is currently -53.33%.

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.