Envestnet Portfolio Solutions Inc. Has $130,000 Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,000 shares of the technology company’s stock after purchasing an additional 1,878 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Pitney Bowes were worth $130,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PBI. Hestia Capital Management LLC acquired a new stake in shares of Pitney Bowes during the 4th quarter valued at $114,326,000. Geode Capital Management LLC boosted its position in Pitney Bowes by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock valued at $25,878,000 after purchasing an additional 51,093 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after purchasing an additional 586,249 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Pitney Bowes by 182.4% in the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after purchasing an additional 624,878 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position 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 worth $5,563,000 after purchasing an additional 30,658 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Pitney Bowes Stock Down 2.4 %

NYSE PBI opened at $9.31 on Friday. The company has a 50 day moving average price of $9.45 and a two-hundred day moving average price of $8.08. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01. The stock has a market capitalization of $1.70 billion, a PE ratio of -8.31, a price-to-earnings-growth ratio of 0.59 and a beta of 2.02.

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

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $0.06 per share. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.58%. Pitney Bowes’s dividend payout ratio is currently -21.43%.

Insider Activity at Pitney Bowes

In other news, EVP James Arthur Fairweather sold 130,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the sale, the executive vice president now directly owns 176,145 shares in the company, valued at approximately $1,907,650.35. The trade was a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm’s 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 completion of the transaction, the director now owns 622,250 shares in the company, valued at $6,010,935. The trade was a 66.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. Corporate insiders own 14.30% of the company’s stock.

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.