Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 182.4% during the third quarter, Holdings Channel reports. The fund owned 967,384 shares of the technology company’s stock after acquiring an additional 624,878 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pitney Bowes were worth $6,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Pitney Bowes by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after purchasing an additional 10,646 shares during the period. Victory Capital Management Inc. increased its stake in Pitney Bowes by 35.5% in the second quarter. Victory Capital Management Inc. now owns 41,897 shares of the technology company’s stock valued at $213,000 after purchasing an additional 10,974 shares during the last quarter. Choreo LLC lifted its position in Pitney Bowes by 45.6% during the second quarter. Choreo LLC now owns 49,807 shares of the technology company’s stock worth $253,000 after buying an additional 15,588 shares during the period. Texas Permanent School Fund Corp boosted its stake in Pitney Bowes by 37.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 178,509 shares of the technology company’s stock worth $907,000 after buying an additional 48,390 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Pitney Bowes by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after buying an additional 5,073 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Price Performance

PBI opened at $7.28 on Thursday. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $8.80. The business has a 50-day moving average of $7.58 and a two-hundred day moving average of $7.10. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.34, a price-to-earnings-growth ratio of 1.35 and a beta of 2.00.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. The firm had revenue of $499.46 million during the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Equities research analysts anticipate that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s payout ratio is currently -9.17%.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company’s stock in a transaction on Friday, November 29th. The shares were 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 of the company’s stock, valued at approximately $151,551.68. This represents a 69.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Evans acquired 29,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the transaction, the director now directly owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.30% of the stock is owned by company insiders.

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.