Dimensional Fund Advisors LP Sells 35,199 Shares of Pitney Bowes Inc. (NYSE:PBI)

Dimensional Fund Advisors LP decreased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,209 shares of the technology company's stock after selling 35,199 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of Pitney Bowes worth $740,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PBI. Barclays PLC boosted its stake in Pitney Bowes by 298.5% in the third quarter. Barclays PLC now owns 277,469 shares of the technology company's stock valued at $1,977,000 after acquiring an additional 207,838 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Pitney Bowes by 593.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company's stock valued at $751,000 after purchasing an additional 91,251 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 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 purchasing an additional 586,249 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Pitney Bowes by 0.5% during the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company's stock worth $4,532,000 after purchasing an additional 3,100 shares during the period. Finally, First Citizens Bank & Trust Co. increased its holdings in Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock valued at $150,000 after purchasing an additional 2,020 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Activity

In other Pitney Bowes news, Director Kurt James Wolf sold 481,199 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the transaction, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. This trade represents a 45.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Arthur Fairweather sold 130,000 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the transaction, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This trade represents a 42.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 613,244 shares of company stock worth $6,607,591 over the last three months. Corporate insiders own 9.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Sidoti upgraded Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. StockNews.com cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday.

Pitney Bowes Stock Down 1.8%

Shares of PBI traded down $0.17 on Monday, hitting $9.27. The company's stock had a trading volume of 1,435,470 shares, compared to its average volume of 2,086,826. The firm's fifty day moving average price is $8.81 and its 200-day moving average price is $8.51. Pitney Bowes Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $11.01. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -8.28, a P/E/G ratio of 0.59 and a beta of 1.47.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The company had revenue of $493.42 million during the quarter, compared to analysts' expectations of $498.99 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The business's quarterly revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 19th will be paid a $0.07 dividend. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.28 annualized dividend and a dividend yield of 3.02%. Pitney Bowes's dividend payout ratio (DPR) is currently -30.77%.

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.