Pitney Bowes Inc. (NYSE:PBI - Get Free Report)'s share price reached a new 52-week low on Wednesday . The company traded as low as $8.35 and last traded at $8.69, with a volume of 1801500 shares trading hands. The stock had previously closed at $8.59.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 31st.
Read Our Latest Research Report on PBI
Pitney Bowes Price Performance
The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -8.09, a PEG ratio of 0.59 and a beta of 1.89. The company's 50 day moving average is $8.96 and its 200 day moving average is $8.33.
Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.
Pitney Bowes Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were issued a $0.06 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.65%. Pitney Bowes's dividend payout ratio is -21.43%.
Insider Activity
In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the 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 sale, the executive vice president now owns 176,145 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now directly owns 622,250 shares of the company's stock, valued at $6,010,935. The trade was a 66.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,941,529 shares of company stock worth $19,517,109 over the last 90 days. 9.00% of the stock is currently owned by corporate insiders.
Institutional Trading of Pitney Bowes
A number of large investors have recently made changes to their positions in the stock. James J. Burns & Company LLC lifted its holdings in Pitney Bowes by 9.7% in the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company's stock valued at $135,000 after purchasing an additional 1,637 shares in the last quarter. PFG Investments LLC lifted its stake in shares of Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after buying an additional 1,644 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock valued at $130,000 after buying an additional 1,878 shares during the period. First Citizens Bank & Trust Co. boosted its position in Pitney Bowes by 10.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock worth $150,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Pitney Bowes by 2.7% in the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock worth $740,000 after acquiring an additional 2,711 shares during the period. Institutional investors and hedge funds own 67.88% of the company's stock.
About Pitney Bowes
(
Get Free Report)
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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