Cibc World Markets Corp Acquires Shares of 15,183 Pitney Bowes Inc. (NYSE:PBI)

Cibc World Markets Corp bought a new position in Pitney Bowes Inc. (NYSE:PBI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,183 shares of the technology company’s stock, valued at approximately $110,000.

Several other hedge funds also recently made changes to their positions in PBI. Intech Investment Management LLC lifted its position in 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 purchasing an additional 24,952 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Pitney Bowes during the 3rd quarter worth approximately $197,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Pitney Bowes by 33.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company’s stock valued at $605,000 after buying an additional 21,367 shares during the period. FMR LLC boosted its stake in shares of Pitney Bowes by 3,308.0% in the third quarter. FMR LLC now owns 320,152 shares of the technology company’s stock valued at $2,283,000 after buying an additional 310,758 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Pitney Bowes by 31.3% during the third quarter. BNP Paribas Financial Markets now owns 209,169 shares of the technology company’s stock worth $1,491,000 after acquiring an additional 49,854 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

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

Pitney Bowes Trading Up 0.0 %

Shares of PBI opened at $9.50 on Friday. Pitney Bowes Inc. has a twelve month low of $3.90 and a twelve month high of $11.01. The firm has a market capitalization of $1.74 billion, a P/E ratio of -8.48, a PEG ratio of 0.59 and a beta of 2.02. The firm’s 50-day moving average is $9.41 and its two-hundred day moving average is $8.05.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. Analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 2.53%. Pitney Bowes’s payout ratio is currently -21.43%.

Insider Activity at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the company’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 value of $315,700.00. Following the sale, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Arthur Fairweather sold 130,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the transaction, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at $1,907,650.35. The trade was a 42.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. Insiders own 14.30% of the company’s stock.

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.