Federated Hermes Inc. Acquires 2,711 Shares of Pitney Bowes Inc. (NYSE:PBI)

Federated Hermes Inc. lifted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,197 shares of the technology company’s stock after acquiring an additional 2,711 shares during the quarter. Federated Hermes Inc. owned approximately 0.06% of Pitney Bowes worth $740,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. James J. Burns & Company LLC lifted its holdings in Pitney Bowes by 9.7% during the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,637 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of 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 buying an additional 1,878 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Pitney Bowes by 10.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after buying an additional 2,020 shares during the period. Smartleaf Asset Management LLC grew 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 valued at $37,000 after buying an additional 2,873 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in Pitney Bowes by 0.5% in the 4th quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after acquiring an additional 3,100 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Pitney Bowes Price Performance

Shares of NYSE PBI opened at $8.11 on Thursday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -7.24, a P/E/G ratio of 0.59 and a beta of 1.89. The stock’s fifty day moving average price is $9.40 and its two-hundred day moving average price is $8.20. Pitney Bowes Inc. has a one year low of $3.92 and a one year high of $11.01.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 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 analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. Pitney Bowes’s payout ratio is presently -21.43%.

Insider Activity at Pitney Bowes

In related news, EVP James Arthur Fairweather sold 130,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 176,145 shares of the company’s stock, valued at $1,907,650.35. The trade was a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the sale, the executive vice president now owns 124,124 shares in the company, valued at $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. Over the last ninety days, insiders sold 1,974,484 shares of company stock worth $19,815,631. Company insiders own 9.00% 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.