Arrowstreet Capital Limited Partnership Buys Shares of 221,347 Pitney Bowes Inc. (NYSE:PBI)

Arrowstreet Capital Limited Partnership purchased a new position in Pitney Bowes Inc. (NYSE:PBI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 221,347 shares of the technology company’s stock, valued at approximately $1,603,000. Arrowstreet Capital Limited Partnership owned 0.12% of Pitney Bowes at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,873 shares during the period. Xponance Inc. boosted its position in shares of Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock valued at $103,000 after acquiring an additional 3,837 shares during the period. Cibc World Markets Corp purchased a new position in Pitney Bowes during the fourth quarter valued at approximately $110,000. Envestnet Portfolio Solutions Inc. increased its holdings in Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock worth $130,000 after acquiring an additional 1,878 shares during the period. Finally, James J. Burns & Company LLC lifted its stake in Pitney Bowes by 9.7% in the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,637 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Down 6.1 %

NYSE:PBI opened at $7.98 on Friday. Pitney Bowes Inc. has a twelve month low of $3.92 and a twelve month high of $11.01. The stock has a market cap of $1.46 billion, a P/E ratio of -7.12, a PEG ratio of 0.59 and a beta of 1.89. The business’s 50-day moving average price is $9.45 and its two-hundred day moving average price is $8.18.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. On average, equities research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a dividend of $0.06 per share. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 3.01%. Pitney Bowes’s dividend payout ratio (DPR) is presently -21.43%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Monday, March 31st.

Insiders Place Their Bets

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the transaction, the director now directly owns 622,250 shares in the company, valued at $6,010,935. This trade represents a 66.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock valued at $19,815,631 over the last 90 days. Insiders own 14.30% of the company’s stock.

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.