BNP Paribas Financial Markets Grows Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

BNP Paribas Financial Markets raised its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 31.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 209,169 shares of the technology company’s stock after buying an additional 49,854 shares during the quarter. BNP Paribas Financial Markets’ holdings in Pitney Bowes were worth $1,491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBI. Cutter & CO Brokerage Inc. grew its holdings in shares of Pitney Bowes by 6.7% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after acquiring an additional 2,000 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Pitney Bowes by 15.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after buying an additional 2,054 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Pitney Bowes by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after purchasing an additional 2,300 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Pitney Bowes by 6.8% in the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after purchasing an additional 5,073 shares during the period. Finally, nVerses Capital LLC increased its position in Pitney Bowes by 59.6% in the third quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock worth $107,000 after buying an additional 5,600 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $7.82 on Monday. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The business’s 50-day simple moving average is $7.41 and its 200-day simple moving average is $6.66. The firm has a market capitalization of $1.42 billion, a PE ratio of -3.59, a PEG ratio of 1.39 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The company had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Research analysts forecast that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s payout ratio is -9.17%.

Insider Buying and Selling

In other news, Director Paul J. Evans acquired 29,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now directly owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Pitney Bowes Company 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.