Pitney Bowes Inc. $PBI Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Pitney Bowes Inc. (NYSE:PBI) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 721,947 shares of the technology company’s stock after selling 322,683 shares during the period. Principal Financial Group Inc.’s holdings in Pitney Bowes were worth $7,978,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Management Corp VA boosted its position in shares of Pitney Bowes by 25.3% during the fourth quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after buying an additional 592,568 shares during the period. TABR Capital Management LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at approximately $807,000. Solidarity Wealth LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at approximately $6,236,000. Gamco Investors INC. ET AL raised its stake in Pitney Bowes by 33.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 491,200 shares of the technology company’s stock valued at $5,192,000 after acquiring an additional 124,000 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Pitney Bowes during the 4th quarter worth $1,802,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PBI shares. Citizens Jmp increased their price target on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday, June 5th. Truist Financial upped their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.43.

Insider Buying and Selling at Pitney Bowes

In other news, CEO Kurt James Wolf sold 966,561 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38. Following the transaction, the chief executive officer owned 452,628 shares of the company’s stock, valued at $6,599,316.24. The trade was a 68.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 3,349,130 shares of company stock worth $53,285,535. Company insiders own 6.50% of the company’s stock.

Pitney Bowes Stock Performance

PBI opened at $17.86 on Monday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.77. The stock’s fifty day moving average is $17.09 and its 200-day moving average is $13.53. The company has a market capitalization of $2.42 billion, a PE ratio of 17.34, a P/E/G ratio of 0.80 and a beta of 1.62.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business had revenue of $477.41 million during the quarter, compared to analysts’ expectations of $471.83 million. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio is presently 38.83%.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.