Pitney Bowes Inc. (NYSE:PBI) Director Paul J. Evans Acquires 29,000 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI) Director Paul J. Evans bought 29,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the purchase, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Pitney Bowes Trading Up 4.7 %

Shares of PBI stock opened at $8.05 on Friday. The stock has a market capitalization of $1.46 billion, a P/E ratio of -3.69, a PEG ratio of 1.35 and a beta of 1.97. The firm’s 50 day moving average is $7.21 and its 200 day moving average is $6.45. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $8.80.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The company had revenue of $499.46 million for the quarter, compared to analysts’ expectations of $467.80 million. On average, equities analysts predict that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, November 18th. Pitney Bowes’s dividend payout ratio is presently -9.17%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Institutional Trading of Pitney Bowes

Several institutional investors and hedge funds have recently bought and sold shares of PBI. ProShare Advisors LLC lifted its stake in Pitney Bowes by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock worth $151,000 after purchasing an additional 2,440 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Pitney Bowes by 21.6% in the 1st quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock worth $287,000 after buying an additional 11,753 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Pitney Bowes by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock worth $957,000 after buying an additional 8,305 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Pitney Bowes by 10.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock worth $428,000 after buying an additional 9,222 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Pitney Bowes in the 1st quarter worth $764,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.