Wedge Capital Management L L P NC purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI – Free Report) in the 3rd quarter, HoldingsChannel reports. The firm purchased 197,051 shares of the technology company’s stock, valued at approximately $1,405,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in Pitney Bowes during the 1st quarter worth approximately $764,000. Quadrature Capital Ltd bought a new position in Pitney Bowes during the 4th quarter worth approximately $240,000. BNP Paribas Financial Markets raised its holdings in Pitney Bowes by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock worth $935,000 after purchasing an additional 19,690 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Pitney Bowes during the 2nd quarter worth approximately $208,000. Finally, Marshall Wace LLP raised its holdings in Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 503,378 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.
Pitney Bowes Stock Up 1.9 %
NYSE:PBI opened at $7.09 on Thursday. The company has a fifty day moving average of $6.93 and a 200-day moving average of $5.87. The firm has a market capitalization of $1.27 billion, a P/E ratio of -3.27, a P/E/G ratio of 1.30 and a beta of 1.97. Pitney Bowes Inc. has a twelve month low of $3.03 and a twelve month high of $7.70.
Pitney Bowes Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s payout ratio is currently -9.22%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.
Read Our Latest Stock Analysis on PBI
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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