AHL Partners LLP Reduces Position in Pitney Bowes Inc. (PBI)
AHL Partners LLP lowered its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 57.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,474 shares of the technology company’s stock after selling 341,539 shares during the quarter. AHL Partners LLP owned about 0.14% of Pitney Bowes worth $3,873,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia bought a new position in Pitney Bowes during the first quarter worth $216,000. HPM Partners LLC bought a new position in Pitney Bowes during the second quarter worth $429,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pitney Bowes by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after acquiring an additional 748 shares during the period. Seven Eight Capital LP bought a new position in Pitney Bowes during the second quarter worth $108,000. Finally, IFP Advisors Inc increased its position in Pitney Bowes by 74.4% during the second quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock worth $170,000 after acquiring an additional 4,793 shares during the period. 76.18% of the stock is currently owned by institutional investors and hedge funds.
Pitney Bowes Inc. (PBI) opened at 13.96 on Monday. Pitney Bowes Inc. has a 12 month low of $12.31 and a 12 month high of $18.20. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 27.43 and a beta of 1.21. The company’s 50-day moving average is $13.10 and its 200-day moving average 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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $822.90 million. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Friday, August 25th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Wednesday, August 23rd. Pitney Bowes’s payout ratio is 144.23%.
A number of equities analysts recently issued reports on PBI shares. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Sidoti raised shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, August 2nd. Finally, Loop Capital started coverage on shares of Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.67.
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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