Pitney Bowes Inc. (NYSE:PBI) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 527.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,019 shares of the technology company's stock after purchasing an additional 40,369 shares during the period. Tower Research Capital LLC TRC's holdings in Pitney Bowes were worth $348,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hestia Capital Management LLC purchased a new stake in shares of Pitney Bowes during the 4th quarter valued at about $114,326,000. Vanguard Group Inc. boosted its stake in shares of Pitney Bowes by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after purchasing an additional 1,299,716 shares during the period. First Trust Advisors LP acquired a new stake in Pitney Bowes during the 4th quarter valued at $6,245,000. JPMorgan Chase & Co. increased its stake in Pitney Bowes by 182.4% during the 3rd 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 during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Pitney Bowes by 47.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock worth $13,139,000 after buying an additional 586,249 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Pitney Bowes Price Performance

PBI traded down $0.02 during trading on Monday, hitting $9.02. The company had a trading volume of 1,529,950 shares, compared to its average volume of 2,069,281. The company has a market cap of $1.65 billion, a PE ratio of -8.05, a P/E/G ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 1-year low of $4.62 and a 1-year high of $11.01. The business has a 50-day moving average of $8.96 and a 200-day moving average of $8.34.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate 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%. Research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a dividend of $0.06 per share. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.66%. Pitney Bowes's payout ratio is presently -21.43%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, EVP James Arthur Fairweather sold 130,000 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the completion of the transaction, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This represents a 42.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the completion of the sale, the director now owns 622,250 shares in the company, valued at $6,010,935. The trade was a 66.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,941,529 shares of company stock valued at $19,517,109. Company insiders own 9.00% of the company's stock.

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.