Sei Investments Co. Has $221,000 Stake in Pitney Bowes Inc. (PBI)
Sei Investments Co. grew its stake in Pitney Bowes Inc. (NYSE:PBI) by 57.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,645 shares of the technology company’s stock after purchasing an additional 5,351 shares during the period. Sei Investments Co.’s holdings in Pitney Bowes were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of PBI. Trexquant Investment LP purchased a new stake in shares of Pitney Bowes in the first quarter valued at approximately $149,000. Bank of Nova Scotia purchased a new stake in shares of Pitney Bowes in the first quarter valued at approximately $216,000. Gagnon Securities LLC purchased a new stake in shares of Pitney Bowes in the second quarter valued at approximately $222,000. Oakbrook Investments LLC purchased a new stake in shares of Pitney Bowes in the second quarter valued at approximately $223,000. Finally, Ifrah Financial Services Inc. purchased a new stake in shares of Pitney Bowes in the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 76.28% of the company’s stock.
Pitney Bowes Inc. (NYSE PBI) opened at 12.62 on Friday. The firm has a market capitalization of $2.36 billion, a PE ratio of 24.79 and a beta of 1.20. Pitney Bowes Inc. has a 1-year low of $12.31 and a 1-year high of $18.24. The firm’s 50-day moving average price is $13.37 and its 200-day moving average price is $14.07.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results 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 return on equity of 15,666.66% and a net margin of 3.02%. The business had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. During the same period last year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a yield of 5.94%. Pitney Bowes’s dividend payout ratio (DPR) is 144.23%.
A number of research firms have recently issued reports on PBI. Loop Capital began coverage on Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 price target for the company. Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. Zacks Investment Research lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Pitney Bowes has a consensus rating of “Hold” and an average 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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