Pitney Bowes Inc. (NYSE:PBI) Raises Dividend to $0.08 Per Share

Key Points

• Pitney Bowes Inc. has raised its quarterly dividend to $0.08 per share, representing a 14.3% increase from the previous dividend of $0.07.
• The company has a dividend payout ratio of 21.7%, which indicates that its dividends are well-supported by its earnings.
• Pitney Bowes saw its stock decline by 1.6% on Wednesday, trading at $11.38, with a market capitalization of $2.08 billion.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Monday, August 11th will be paid a dividend of 0.08 per share by the technology company on Monday, September 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.81%. This is a 14.3% increase from Pitney Bowes's previous quarterly dividend of $0.07.

Pitney Bowes has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Pitney Bowes to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 21.4%.

Pitney Bowes Stock Down 1.6%

PBI traded down $0.19 during trading on Wednesday, reaching $11.38. 4,369,158 shares of the company were exchanged, compared to its average volume of 2,458,934. The company's 50-day moving average is $10.91 and its two-hundred day moving average is $9.66. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -12.51, a P/E/G ratio of 0.65 and a beta of 1.60. Pitney Bowes has a 12-month low of $5.58 and a 12-month high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Pitney Bowes had a negative return on equity of 31.61% and a negative net margin of 7.18%. Equities analysts forecast that Pitney Bowes will post 1.21 earnings per share for the current year.

Insider Buying and Selling

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the sale, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 9.00% of the stock is owned by company insiders.

Institutional Trading of Pitney Bowes

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC lifted its holdings in Pitney Bowes by 15.5% in the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company's stock worth $1,768,000 after buying an additional 26,260 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Pitney Bowes by 18.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company's stock worth $4,258,000 after buying an additional 72,437 shares during the period. United Services Automobile Association purchased a new stake in Pitney Bowes in the first quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Pitney Bowes by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company's stock worth $882,000 after buying an additional 5,149 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Pitney Bowes by 133.1% in the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company's stock worth $478,000 after buying an additional 30,238 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.

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