30,200 Shares in Pitney Bowes Inc. (PBI) Acquired by Alps Advisors Inc.
Alps Advisors Inc. bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,200 shares of the technology company’s stock, valued at approximately $338,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in Pitney Bowes by 1.3% during the second quarter. Public Employees Retirement System of Ohio now owns 60,488 shares of the technology company’s stock worth $913,000 after buying an additional 784 shares during the period. WINTON GROUP Ltd lifted its position in Pitney Bowes by 4.6% during the second quarter. WINTON GROUP Ltd now owns 61,285 shares of the technology company’s stock worth $925,000 after buying an additional 2,705 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Pitney Bowes by 38.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,259 shares of the technology company’s stock worth $230,000 after buying an additional 4,268 shares during the period. First Trust Advisors LP lifted its position in Pitney Bowes by 2.7% during the third quarter. First Trust Advisors LP now owns 174,085 shares of the technology company’s stock worth $2,439,000 after buying an additional 4,539 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Pitney Bowes by 0.6% during the third quarter. Principal Financial Group Inc. now owns 795,001 shares of the technology company’s stock worth $11,138,000 after buying an additional 5,092 shares during the period. Hedge funds and other institutional investors own 70.24% of the company’s stock.
Several research firms recently weighed in on PBI. Zacks Investment Research upgraded Pitney Bowes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 8th. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Loop Capital cut their price objective on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.50.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Pitney Bowes had a return on equity of 379.85% and a net margin of 7.36%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. equities research analysts anticipate that Pitney Bowes Inc. will post 1.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.12%. Pitney Bowes’s dividend payout ratio (DPR) is 53.57%.
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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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