Barclays PLC Buys 207,838 Shares of Pitney Bowes Inc. (NYSE:PBI)

Barclays PLC lifted its stake in Pitney Bowes Inc. (NYSE:PBI) by 298.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 277,469 shares of the technology company’s stock after acquiring an additional 207,838 shares during the period. Barclays PLC’s holdings in Pitney Bowes were worth $1,977,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Algert Global LLC increased its stake in Pitney Bowes by 76.9% in the third quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock valued at $2,459,000 after acquiring an additional 149,944 shares during the period. FMR LLC lifted its position in Pitney Bowes by 3,308.0% during the 3rd quarter. FMR LLC now owns 320,152 shares of the technology company’s stock worth $2,283,000 after buying an additional 310,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Pitney Bowes during the third quarter worth approximately $3,442,000. American Assets Inc. bought a new position in Pitney Bowes in the 3rd quarter valued at $513,000. Finally, Verition Fund Management LLC increased its position in Pitney Bowes by 126.6% in the third quarter. Verition Fund Management LLC now owns 135,531 shares of the technology company’s stock worth $966,000 after purchasing an additional 75,724 shares during the period. Institutional investors own 67.88% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Evans acquired 29,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares in the company, valued at $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company’s stock.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $7.33 on Friday. The company has a 50 day moving average of $7.58 and a 200-day moving average of $6.86. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -3.36, a P/E/G ratio of 1.35 and a beta of 1.97. Pitney Bowes Inc. has a one year low of $3.68 and a one year high of $8.80.

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

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio is currently -9.17%.

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.