Hsbc Holdings PLC cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI – Free Report) by 15.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 767,533 shares of the technology company’s stock after selling 145,628 shares during the period. Hsbc Holdings PLC owned about 0.43% of Pitney Bowes worth $3,876,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBI. nVerses Capital LLC acquired a new position in shares of Pitney Bowes during the 2nd quarter worth about $48,000. William Howard & Co Financial Advisors Inc purchased a new position in shares of Pitney Bowes in the first quarter valued at approximately $52,000. SageView Advisory Group LLC acquired a new stake in shares of Pitney Bowes in the first quarter worth approximately $57,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Pitney Bowes by 3,412.2% in the 2nd quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after purchasing an additional 16,174 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes Trading Up 1.4 %
Shares of NYSE PBI opened at $7.16 on Wednesday. The company has a 50-day moving average of $6.78 and a 200 day moving average of $5.57. Pitney Bowes Inc. has a 12-month low of $2.87 and a 12-month high of $7.70. The stock has a market cap of $1.28 billion, a PE ratio of -3.30, a P/E/G ratio of 1.26 and a beta of 1.98.
Pitney Bowes Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio is currently -9.22%.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.
Read Our Latest Analysis on Pitney Bowes
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.
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