Geode Capital Management LLC Purchases 51,093 Shares of Pitney Bowes Inc. (NYSE:PBI)

Geode Capital Management LLC lifted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 1.4% during the third quarter, Holdings Channel.com reports. The firm owned 3,628,672 shares of the technology company’s stock after purchasing an additional 51,093 shares during the period. Geode Capital Management LLC’s holdings in Pitney Bowes were worth $25,878,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cutter & CO Brokerage Inc. boosted its stake in Pitney Bowes by 6.7% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock valued at $162,000 after purchasing an additional 2,000 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Pitney Bowes by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock valued at $398,000 after purchasing an additional 2,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pitney Bowes by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock valued at $347,000 after buying an additional 4,728 shares during the last quarter. Federated Hermes Inc. grew its holdings in Pitney Bowes by 6.8% during the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after buying an additional 5,073 shares in the last quarter. Finally, nVerses Capital LLC raised its position in Pitney Bowes by 59.6% in the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock valued at $107,000 after buying an additional 5,600 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Evans acquired 29,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now directly owns 29,000 shares of the company’s stock, valued at $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 14.30% of the stock is currently owned by corporate insiders.

Pitney Bowes Trading Down 0.5 %

Shares of NYSE:PBI opened at $7.29 on Friday. The stock has a market cap of $1.32 billion, a PE ratio of -3.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.97. The stock’s fifty day simple moving average is $7.59 and its two-hundred day simple moving average is $6.88. Pitney Bowes Inc. has a 1-year low of $3.68 and a 1-year high of $8.80.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating 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. On average, sell-side analysts forecast that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.74%. Pitney Bowes’s payout ratio is presently -9.17%.

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.