15,183 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new stake in Pitney Bowes Inc. (NYSE:PBI) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 15,183 shares of the technology company’s stock, valued at approximately $110,000.

A number of other large investors also recently made changes to their positions in PBI. Hestia Capital Management LLC acquired a new position in Pitney Bowes in the fourth quarter valued at $114,326,000. Principal Financial Group Inc. grew its holdings in Pitney Bowes by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock valued at $5,563,000 after buying an additional 30,658 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Pitney Bowes by 47.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after acquiring an additional 586,249 shares during the last quarter. American Assets Inc. lifted its holdings in shares of Pitney Bowes by 80.6% during the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock worth $941,000 after acquiring an additional 58,000 shares during the period. Finally, FMR LLC boosted its position in shares of Pitney Bowes by 3,308.0% in the third quarter. FMR LLC now owns 320,152 shares of the technology company’s stock worth $2,283,000 after acquiring an additional 310,758 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Pitney Bowes Stock Up 0.0 %

PBI stock opened at $9.50 on Friday. Pitney Bowes Inc. has a 52 week low of $3.90 and a 52 week high of $11.01. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -8.48, a PEG ratio of 0.59 and a beta of 2.02. The business has a fifty day simple moving average of $9.41 and a 200-day simple moving average of $8.05.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. As a group, analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.53%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. Pitney Bowes’s payout ratio is -21.43%.

Insiders Place Their Bets

In related news, Director Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock worth $19,815,631 over the last ninety days. 14.30% of the stock is owned by company insiders.

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.