Peak6 LLC Makes New Investment in Pitney Bowes Inc. (NYSE:PBI)

PEAK6 LLC purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 489,884 shares of the technology company's stock, valued at approximately $3,547,000. PEAK6 LLC owned about 0.27% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PBI. Vanguard Group Inc. increased its position in Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after acquiring an additional 1,299,716 shares during the period. Hestia Capital Management LLC bought a new position in shares of Pitney Bowes during the fourth quarter worth approximately $114,326,000. Geode Capital Management LLC raised its position in shares of Pitney Bowes by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company's stock valued at $25,878,000 after buying an additional 51,093 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock valued at $13,139,000 after buying an additional 586,249 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company's stock worth $6,897,000 after buying an additional 624,878 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Price Performance

PBI stock traded up $0.10 during midday trading on Thursday, reaching $8.41. The company had a trading volume of 566,992 shares, compared to its average volume of 2,076,126. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -7.49, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 1-year low of $4.07 and a 1-year high of $11.01. The stock has a 50 day moving average price of $9.24 and a 200-day moving average price of $8.24.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $0.06 per share. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's payout ratio is -21.43%.

Insider Buying and Selling

In other news, Director Kurt James Wolf sold 78,285 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the transaction, the director now owns 606,289 shares of the company's stock, valued at $6,463,040.74. This represents a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock worth $19,815,631 in the last ninety days. 9.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st.

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.