Pitney Bowes Inc. (NYSE:PBI) Shares Bought by Xponance Inc.

Xponance Inc. grew its stake in Pitney Bowes Inc. (NYSE:PBI) by 36.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,283 shares of the technology company’s stock after purchasing an additional 3,837 shares during the quarter. Xponance Inc.’s holdings in Pitney Bowes were worth $103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Markets Corp purchased a new position in Pitney Bowes in the 4th quarter valued at about $110,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Pitney Bowes by 11.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,878 shares in the last quarter. Swiss National Bank lifted its position in shares of Pitney Bowes by 1.1% in the fourth quarter. Swiss National Bank now owns 317,800 shares of the technology company’s stock valued at $2,301,000 after acquiring an additional 3,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Pitney Bowes by 7.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 519,740 shares of the technology company’s stock worth $3,763,000 after acquiring an additional 37,009 shares during the last quarter. Finally, American Assets Inc. increased its position in shares of Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock worth $941,000 after purchasing an additional 58,000 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Kurt James Wolf sold 78,285 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the transaction, the director now directly owns 606,289 shares in the company, valued at approximately $6,463,040.74. This represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes 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 in the company, valued at $1,119,598.48. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. 14.30% of the stock is currently owned by insiders.

Pitney Bowes Trading Down 2.4 %

PBI opened at $9.31 on Friday. Pitney Bowes Inc. has a twelve month low of $3.90 and a twelve month high of $11.01. The firm has a market capitalization of $1.70 billion, a PE ratio of -8.31, a PEG ratio of 0.59 and a beta of 2.02. The firm’s 50-day moving average price is $9.45 and its 200 day moving average price is $8.08.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share 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 predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared 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 represents a $0.24 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s payout ratio is currently -21.43%.

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.