Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 1,356.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 474,107 shares of the technology company’s stock after buying an additional 441,553 shares during the period. Victory Capital Management Inc.’s holdings in Pitney Bowes were worth $3,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PBI. GSA Capital Partners LLP raised its position in shares of Pitney Bowes by 94.8% in the third quarter. GSA Capital Partners LLP now owns 89,352 shares of the technology company’s stock valued at $637,000 after buying an additional 43,489 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Pitney Bowes in the third quarter valued at about $3,442,000. Intech Investment Management LLC raised its position in shares of Pitney Bowes by 39.2% in the third quarter. Intech Investment Management LLC now owns 88,639 shares of the technology company’s stock valued at $632,000 after buying an additional 24,952 shares during the last quarter. Algert Global LLC raised its position in shares of Pitney Bowes by 76.9% in the third quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock valued at $2,459,000 after buying an additional 149,944 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Pitney Bowes in the third quarter valued at about $636,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the transaction, the executive vice president now directly owns 124,124 shares in the company, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kurt James Wolf sold 78,285 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.66, for a total transaction of $834,518.10. Following the sale, the director now owns 606,289 shares in the company, valued at $6,463,040.74. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,974,484 shares of company stock valued at $19,815,631 over the last 90 days. 14.30% of the stock is owned by corporate insiders.

Pitney Bowes Trading Up 3.1 %

Pitney Bowes stock opened at $9.41 on Monday. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01. The stock has a market cap of $1.72 billion, a P/E ratio of -8.40, a PEG ratio of 0.59 and a beta of 2.02. The company has a 50-day moving average price of $9.01 and a 200 day moving average price of $7.90.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a $0.06 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.55%. Pitney Bowes’s dividend payout ratio (DPR) is -21.43%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

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.