B. Riley Wealth Advisors Inc. Decreases Holdings in Pitney Bowes Inc. (NYSE:PBI)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,734 shares of the technology company’s stock after selling 9,222 shares during the period. B. Riley Wealth Advisors Inc. owned 0.05% of Pitney Bowes worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Pitney Bowes by 13.3% during the 3rd quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company’s stock worth $8,251,000 after purchasing an additional 321,438 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Pitney Bowes by 164.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock worth $7,651,000 after purchasing an additional 1,082,506 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Pitney Bowes by 58.2% during the 4th quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock worth $4,145,000 after purchasing an additional 349,599 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Pitney Bowes by 8.7% during the 3rd quarter. Westside Investment Management Inc. now owns 765,614 shares of the technology company’s stock worth $2,312,000 after purchasing an additional 61,600 shares during the last quarter. Finally, Steward Partners Investment Solutions LLC acquired a new position in shares of Pitney Bowes during the 4th quarter worth approximately $1,869,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Up 2.5 %

PBI stock opened at $4.77 on Tuesday. The company has a market cap of $852.36 million, a price-to-earnings ratio of -2.20, a PEG ratio of 16.00 and a beta of 2.02. The business has a fifty day simple moving average of $4.92 and a 200-day simple moving average of $4.42. Pitney Bowes Inc. has a 52 week low of $2.80 and a 52 week high of $5.78.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $831.00 million during the quarter, compared to the consensus estimate of $797.00 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, analysts expect that Pitney Bowes Inc. will post 0.02 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Thursday, May 23rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.20 dividend on an annualized basis and a yield of 4.20%. Pitney Bowes’s dividend payout ratio (DPR) is -9.22%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Pitney Bowes from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd.

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.