Public Sector Pension Investment Board Has $2.36 Million Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Public Sector Pension Investment Board reduced its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,325 shares of the technology company’s stock after selling 11,100 shares during the period. Public Sector Pension Investment Board’s holdings in Pitney Bowes were worth $2,362,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Pitney Bowes by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock valued at $347,000 after purchasing an additional 4,728 shares in the last quarter. Corsair Capital Management L.P. raised its position in Pitney Bowes by 26.3% during the third quarter. Corsair Capital Management L.P. now owns 100,328 shares of the technology company’s stock valued at $715,000 after purchasing an additional 20,885 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Pitney Bowes by 31.3% during the third quarter. BNP Paribas Financial Markets now owns 209,169 shares of the technology company’s stock worth $1,491,000 after buying an additional 49,854 shares during the last quarter. FMR LLC grew its stake in shares of Pitney Bowes by 3,308.0% during the third quarter. FMR LLC now owns 320,152 shares of the technology company’s stock worth $2,283,000 after buying an additional 310,758 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Pitney Bowes by 33.6% during the third quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company’s stock worth $605,000 after buying an additional 21,367 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Performance

NYSE PBI opened at $7.90 on Thursday. The firm’s fifty day moving average price is $7.38 and its two-hundred day moving average price is $6.61. The stock has a market cap of $1.43 billion, a PE ratio of -3.62, a PEG ratio of 1.41 and a beta of 1.97. Pitney Bowes Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $8.80.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The firm had revenue of $499.46 million for the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. As a group, sell-side analysts predict that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.05 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.53%. Pitney Bowes’s dividend payout ratio is -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.

Insider Buying and Selling

In other Pitney Bowes news, Director Paul J. Evans acquired 29,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the completion of the purchase, the director now directly owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the sale, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their position. The disclosure for this sale can be found here. 14.30% of the stock is currently owned by insiders.

Pitney Bowes Company 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.