Pitney Bowes Inc. (PBI) Shares Bought by Advisor Group Inc.
Advisor Group Inc. increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,927 shares of the technology company’s stock after purchasing an additional 2,209 shares during the quarter. Advisor Group Inc.’s holdings in Pitney Bowes were worth $1,112,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Pitney Bowes by 9,828.4% during the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after purchasing an additional 20,918,761 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pitney Bowes by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 9,271,892 shares of the technology company’s stock valued at $140,005,000 after purchasing an additional 137,446 shares during the last quarter. LSV Asset Management grew its stake in shares of Pitney Bowes by 4.8% during the second quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock valued at $63,479,000 after purchasing an additional 191,400 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pitney Bowes by 37.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,780,498 shares of the technology company’s stock valued at $23,342,000 after purchasing an additional 486,581 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Pitney Bowes by 3.4% during the second quarter. Northern Trust Corp now owns 1,744,872 shares of the technology company’s stock valued at $26,348,000 after purchasing an additional 56,573 shares during the last quarter. 76.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 14.01 on Friday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 27.52 and a beta of 1.20. Pitney Bowes Inc. has a 12-month low of $12.31 and a 12-month high of $18.24. The firm has a 50-day moving average of $12.79 and a 200 day moving average of $14.03.
Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $822.90 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Pitney Bowes Inc. will post $1.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend was Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio is currently 144.23%.
PBI has been the topic of several research analyst reports. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Loop Capital began coverage on shares of Pitney Bowes in a research note on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective on the stock. Finally, Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Pitney Bowes currently has an average rating of “Hold” and a consensus price target of $17.50.
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Pitney Bowes Company Profile
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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