Crumly & Associates Inc. lessened its position in shares of Pitney Bowes Inc. (NYSE:PBI – Free Report) by 78.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,846 shares of the technology company’s stock after selling 108,859 shares during the period. Crumly & Associates Inc.’s holdings in Pitney Bowes were worth $152,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in PBI. Cutter & CO Brokerage Inc. boosted its stake in Pitney Bowes by 6.7% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock valued at $162,000 after purchasing an additional 2,000 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after acquiring an additional 2,054 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Pitney Bowes by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock valued at $398,000 after acquiring an additional 2,300 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after acquiring an additional 2,440 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. increased its position in Pitney Bowes by 2.1% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.
Pitney Bowes Price Performance
NYSE:PBI traded down $0.07 during trading hours on Thursday, reaching $6.68. 250,573 shares of the company were exchanged, compared to its average volume of 1,768,454. The business has a 50 day moving average of $6.63 and a 200 day moving average of $5.28. Pitney Bowes Inc. has a 1-year low of $2.80 and a 1-year high of $7.70. The company has a market capitalization of $1.20 billion, a P/E ratio of -3.12, a P/E/G ratio of 1.35 and a beta of 1.98.
Pitney Bowes Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.20 annualized dividend and a dividend yield of 2.99%. Pitney Bowes’s payout ratio is -9.22%.
Analyst Ratings Changes
Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.
View Our Latest Analysis on Pitney Bowes
Pitney Bowes Profile
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.
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