Y Intercept Hong Kong Ltd Reduces Holdings in Pitney Bowes Inc. $PBI

Key Points

• Y Intercept Hong Kong Ltd cut its Pitney Bowes position by 71.4% in the first quarter, selling 123,013 shares and leaving it with 49,157 shares worth about $543,000.
• Pitney Bowes saw notable insider selling, including CEO Kurt James Wolf selling 966,561 shares for about $14.1 million; insiders sold 3.35 million shares over the last 90 days.
• Analysts are slightly more positive on the stock, with the consensus rating at Moderate Buy and an average price target of $16.43, while shares recently traded at $18.11 after the company reported earnings and a very small quarterly dividend.

Y Intercept Hong Kong Ltd reduced its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 71.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,157 shares of the technology company's stock after selling 123,013 shares during the period. Y Intercept Hong Kong Ltd's holdings in Pitney Bowes were worth $543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock valued at $38,000 after purchasing an additional 1,015 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Pitney Bowes by 2.4% in the 3rd quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company's stock worth $604,000 after buying an additional 1,234 shares in the last quarter. Baird Financial Group Inc. boosted its position in Pitney Bowes by 12.5% in the 2nd quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company's stock valued at $144,000 after buying an additional 1,459 shares during the last quarter. Creative Planning boosted its position in Pitney Bowes by 13.5% in the 3rd quarter. Creative Planning now owns 18,402 shares of the technology company's stock valued at $210,000 after buying an additional 2,188 shares during the last quarter. Finally, Longview Financial Advisors Inc. acquired a new stake in shares of Pitney Bowes during the first quarter valued at about $26,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Kurt James Wolf sold 966,561 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total value of $14,092,459.38. Following the completion of the transaction, the chief executive officer owned 452,628 shares in the company, valued at approximately $6,599,316.24. This trade represents a 68.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 3,351,337 shares of company stock worth $53,313,134. Company insiders own 6.50% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PBI shares. Zacks Research raised Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Wall Street Zen raised Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Citizens Jmp raised their price objective on Pitney Bowes from $17.00 to $19.00 and gave the company a "market outperform" rating in a research note on Friday, June 5th. Citigroup restated a "market outperform" rating on shares of Pitney Bowes in a report on Tuesday, June 16th. Finally, Weiss Ratings raised Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Pitney Bowes currently has an average rating of "Moderate Buy" and a consensus price target of $16.43.

Pitney Bowes Stock Performance

PBI opened at $18.11 on Tuesday. The company has a market capitalization of $2.45 billion, a P/E ratio of 17.59, a PEG ratio of 0.82 and a beta of 1.62. The company has a 50-day moving average of $16.62 and a 200-day moving average of $13.04. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $18.61.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $477.41 million for the quarter, compared to analysts' expectations of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes's dividend payout ratio (DPR) is currently 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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