Kestra Advisory Services LLC Acquires 7,960 Shares of Pitney Bowes Inc. $PBI

Kestra Advisory Services LLC lifted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,694 shares of the technology company’s stock after acquiring an additional 7,960 shares during the period. Kestra Advisory Services LLC owned approximately 0.05% of Pitney Bowes worth $830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PBI. Trail Ridge Investment Advisors LLC bought a new stake in Pitney Bowes in the 1st quarter worth about $267,000. Bank of America Corp DE grew its position in Pitney Bowes by 43.0% in the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company’s stock worth $6,752,000 after purchasing an additional 280,402 shares in the last quarter. American Assets Inc. grew its position in Pitney Bowes by 80.6% in the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock worth $941,000 after purchasing an additional 58,000 shares in the last quarter. Man Group plc grew its position in Pitney Bowes by 76.1% in the 4th quarter. Man Group plc now owns 101,142 shares of the technology company’s stock worth $732,000 after purchasing an additional 43,694 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Pitney Bowes by 1,030.5% in the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company’s stock worth $278,000 after purchasing an additional 27,999 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Trading Down 0.9%

Shares of PBI stock opened at $12.02 on Wednesday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -20.03, a PEG ratio of 0.62 and a beta of 1.29. The firm’s 50 day moving average is $11.57 and its 200 day moving average is $10.21. Pitney Bowes Inc. has a 12 month low of $6.22 and a 12 month high of $13.11.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $461.91 million for the quarter, compared to analysts’ expectations of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. Pitney Bowes’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, equities analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes declared that its board has approved a stock buyback plan on Wednesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 18.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s payout ratio is currently -53.33%.

Insider Activity at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the transaction, the executive vice president owned 115,405 shares of the company’s stock, valued at $1,401,016.70. This represents a 23.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Pitney Bowes presently has an average rating of “Hold”.

About Pitney Bowes

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.