XTX Topco Ltd Purchases New Shares in Pitney Bowes Inc. (NYSE:PBI)

XTX Topco Ltd purchased a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,021 shares of the technology company's stock, valued at approximately $226,000.

A number of other hedge funds also recently modified their holdings of PBI. KBC Group NV purchased a new stake in shares of Pitney Bowes during the 1st quarter valued at approximately $65,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pitney Bowes during the first quarter worth $98,000. PharVision Advisers LLC purchased a new stake in shares of Pitney Bowes during the fourth quarter worth $107,000. 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 worth $117,000 after acquiring an additional 1,644 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Pitney Bowes in the first quarter valued at $124,000. Institutional investors own 67.88% of the company's stock.

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred 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 represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.00% of the company's stock.

Analyst Upgrades and Downgrades

PBI has been the topic of a number of recent research reports. Sidoti raised Pitney Bowes to a "hold" rating in a report on Monday, May 5th. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th.

Pitney Bowes Stock Up 0.7%

NYSE:PBI traded up $0.08 during trading hours on Friday, hitting $11.29. 2,361,764 shares of the company's stock traded hands, compared to its average volume of 4,302,768. Pitney Bowes Inc. has a 52 week low of $6.22 and a 52 week high of $13.11. The business's fifty day simple moving average is $11.22 and its two-hundred day simple moving average is $9.98. The firm has a market cap of $1.94 billion, a P/E ratio of -18.82, a P/E/G ratio of 0.58 and a beta of 1.54.

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 for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $461.91 million for the quarter, compared to analysts' expectations of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The business's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. On average, analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes declared that its board has initiated a stock buyback plan on Wednesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be paid a $0.08 dividend. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.8%. Pitney Bowes's dividend payout ratio is presently -53.33%.

Pitney Bowes 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.