Mackay Shields LLC Has $921,000 Stake in Pitney Bowes Inc. (PBI)
Mackay Shields LLC cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 91.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,505 shares of the technology company’s stock after selling 1,098,013 shares during the period. Mackay Shields LLC owned 0.06% of Pitney Bowes worth $921,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PBI. Millennium Management LLC increased its position in shares of Pitney Bowes by 657.3% during the first quarter. Millennium Management LLC now owns 4,189,353 shares of the technology company’s stock valued at $45,622,000 after buying an additional 3,636,177 shares during the period. First Trust Advisors LP increased its position in shares of Pitney Bowes by 371.1% during the second quarter. First Trust Advisors LP now owns 966,944 shares of the technology company’s stock valued at $8,287,000 after buying an additional 761,706 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Pitney Bowes during the second quarter valued at about $5,142,000. American Century Companies Inc. increased its position in shares of Pitney Bowes by 601.0% during the first quarter. American Century Companies Inc. now owns 586,233 shares of the technology company’s stock valued at $6,384,000 after buying an additional 502,600 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Pitney Bowes by 243.9% during the first quarter. BNP Paribas Arbitrage SA now owns 559,545 shares of the technology company’s stock valued at $6,093,000 after buying an additional 396,862 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.
PBI stock opened at $7.91 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 16.56. The company has a market capitalization of $1.52 billion, a P/E ratio of 5.61 and a beta of 1.04. Pitney Bowes Inc. has a 1-year low of $7.81 and a 1-year high of $14.80.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 11th. Investors of record on Friday, August 24th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 9.48%. The ex-dividend date of this dividend is Thursday, August 23rd. Pitney Bowes’s dividend payout ratio (DPR) is 53.19%.
Several equities research analysts have recently weighed in on PBI shares. ValuEngine cut Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Loop Capital decreased their price objective on shares of Pitney Bowes to $10.00 and set a “hold” rating on the stock in a research report on Thursday, May 3rd. Maxim Group assumed coverage on shares of Pitney Bowes in a research report on Thursday, May 31st. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Pitney Bowes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd.
Pitney Bowes Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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