Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 188,339 shares of the technology company’s stock after selling 3,602 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Pitney Bowes were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in Pitney Bowes during the fourth quarter valued at $31,000. Smartleaf Asset Management LLC grew its position in shares of Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,873 shares during the period. Xponance Inc. increased its stake in shares of Pitney Bowes by 36.7% in the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock valued at $103,000 after purchasing an additional 3,837 shares in the last quarter. Cibc World Markets Corp acquired a new position in Pitney Bowes in the 4th quarter worth about $110,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,878 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Sidoti upgraded shares of Pitney Bowes to a “hold” rating in a research report on Monday, May 5th.

Insiders Place Their Bets

In other news, EVP James Arthur Fairweather sold 130,000 shares of Pitney Bowes stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the transaction, the executive vice president now owns 176,145 shares in the company, valued at $1,907,650.35. The trade was a 42.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kurt James Wolf sold 78,285 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.66, for a total transaction of $834,518.10. Following the completion of the sale, the director now directly owns 606,289 shares of the company’s stock, valued at $6,463,040.74. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,941,529 shares of company stock valued at $19,517,109 in the last ninety days. 9.00% of the stock is currently owned by corporate insiders.

Pitney Bowes Trading Down 1.4 %

NYSE:PBI opened at $9.28 on Friday. The firm has a market cap of $1.70 billion, a P/E ratio of -8.29, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. The stock has a 50 day moving average of $8.82 and a two-hundred day moving average of $8.40. Pitney Bowes Inc. has a 12 month low of $4.62 and a 12 month high of $11.01.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The company had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. During the same quarter last year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 19th will be issued a $0.07 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, May 19th. This represents a $0.28 dividend on an annualized basis and a yield of 3.02%. Pitney Bowes’s dividend payout ratio is presently -21.43%.

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.