BNP Paribas Arbitrage SA Boosts Position in Pitney Bowes Inc. (PBI)
BNP Paribas Arbitrage SA increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 38.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 124,204 shares of the technology company’s stock after buying an additional 34,179 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Pitney Bowes worth $1,875,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in Pitney Bowes by 302.6% in the first quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the technology company’s stock valued at $617,000 after buying an additional 35,400 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Pitney Bowes by 481.9% in the first quarter. Nationwide Fund Advisors now owns 309,967 shares of the technology company’s stock valued at $4,064,000 after buying an additional 256,697 shares in the last quarter. Profund Advisors LLC bought a new stake in Pitney Bowes during the first quarter valued at approximately $420,000. Glen Harbor Capital Management LLC boosted its stake in Pitney Bowes by 176.1% in the first quarter. Glen Harbor Capital Management LLC now owns 55,770 shares of the technology company’s stock valued at $731,000 after buying an additional 35,574 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Pitney Bowes during the first quarter valued at approximately $1,135,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pitney Bowes Inc. (PBI) opened at 12.90 on Friday. Pitney Bowes Inc. has a 52 week low of $12.31 and a 52 week high of $19.03. The firm has a 50-day moving average of $13.75 and a 200 day moving average of $14.10. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 25.34 and a beta of 1.21.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The business had revenue of $821.40 million during the quarter, compared to the consensus estimate of $822.90 million. During the same period last year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that Pitney Bowes Inc. will post $1.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio (DPR) is 144.23%.
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PBI has been the topic of several research reports. Zacks Investment Research raised shares of Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Friday, May 12th. Sidoti cut shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Loop Capital initiated coverage on shares of Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Pitney Bowes presently has an average rating of “Hold” and a consensus target price of $17.50.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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