Bank of New York Mellon Corp grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI – Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,116,838 shares of the technology company’s stock after purchasing an additional 21,811 shares during the period. Bank of New York Mellon Corp owned about 1.18% of Pitney Bowes worth $10,754,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PBI. National Bank of Canada FI purchased a new stake in shares of Pitney Bowes during the fourth quarter valued at $30,000. Envestnet Portfolio Solutions Inc. acquired a new position in Pitney Bowes during the fourth quarter valued at $55,000. Dynamic Technology Lab Private Ltd acquired a new position in Pitney Bowes during the fourth quarter valued at $152,000. Hsbc Holdings PLC raised its position in Pitney Bowes by 58.2% during the fourth quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock valued at $4,145,000 after buying an additional 349,599 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in Pitney Bowes by 29.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 43,533 shares of the technology company’s stock valued at $192,000 after buying an additional 10,000 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes Trading Up 0.6 %
NYSE:PBI opened at $6.48 on Tuesday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.99, a PEG ratio of 1.23 and a beta of 1.98. Pitney Bowes Inc. has a 1-year low of $2.81 and a 1-year high of $7.70. The business’s fifty day moving average price is $6.70 and its 200 day moving average price is $5.33.
Pitney Bowes Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s payout ratio is currently -9.22%.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st.
Get Our Latest Analysis on Pitney Bowes
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.
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