Point72 Asia Singapore Pte. Ltd. Decreases Holdings in Pitney Bowes Inc. (NYSE:PBI)

Point72 Asia Singapore Pte. Ltd. cut its stake in Pitney Bowes Inc. (NYSE:PBI) by 55.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,119 shares of the technology company’s stock after selling 10,035 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Pitney Bowes were worth $41,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Pitney Bowes in the second quarter valued at about $48,000. William Howard & Co Financial Advisors Inc purchased a new stake in shares of Pitney Bowes during the first quarter valued at approximately $52,000. SageView Advisory Group LLC acquired a new position in shares of Pitney Bowes during the first quarter worth $57,000. Point72 DIFC Ltd lifted its position in shares of Pitney Bowes by 218.0% during the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after purchasing an additional 2,054 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Price Performance

NYSE PBI opened at $7.13 on Tuesday. Pitney Bowes Inc. has a 12 month low of $3.03 and a 12 month high of $7.70. The company’s fifty day moving average price is $6.80 and its two-hundred day moving average price is $5.63. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.98.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.10. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The business had revenue of $793.17 million for the quarter, compared to analyst estimates of $771.65 million. During the same period in the prior year, the company posted ($0.02) EPS. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Pitney Bowes Inc. will post 0.35 EPS for the current year.

Pitney Bowes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.20 annualized dividend and a yield of 2.81%. Pitney Bowes’s dividend payout ratio (DPR) is -9.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

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.