Aigen Investment Management LP Has $89,000 Position in Pitney Bowes Inc. (NYSE:PBI)

Aigen Investment Management LP reduced its holdings in Pitney Bowes Inc. (NYSE:PBI) by 67.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,497 shares of the technology company’s stock after selling 26,185 shares during the period. Aigen Investment Management LP’s holdings in Pitney Bowes were worth $89,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. increased 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 buying an additional 2,000 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Pitney Bowes by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after purchasing an additional 2,300 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Pitney Bowes by 7.5% during 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 during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Pitney Bowes by 6.8% during the 2nd quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after purchasing an additional 5,073 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Pitney Bowes Price Performance

Pitney Bowes stock opened at $7.25 on Monday. The firm has a market capitalization of $1.32 billion, a PE ratio of -3.33, a P/E/G ratio of 1.27 and a beta of 1.97. The company’s 50-day moving average is $7.11 and its 200-day moving average is $6.37. 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 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 business had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. As a group, analysts expect that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.76%. Pitney Bowes’s dividend payout ratio (DPR) is currently -9.17%.

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.