SG Americas Securities LLC Sells 20,738 Shares of Pitney Bowes Inc. (NYSE:PBI)

SG Americas Securities LLC cut its holdings in Pitney Bowes Inc. (NYSE:PBI) by 45.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,919 shares of the technology company’s stock after selling 20,738 shares during the quarter. SG Americas Securities LLC’s holdings in Pitney Bowes were worth $178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in Pitney Bowes during the first quarter valued at $764,000. Quadrature Capital Ltd bought a new position in Pitney Bowes in the 4th quarter worth $240,000. BNP Paribas Financial Markets increased its holdings in Pitney Bowes by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock worth $935,000 after acquiring an additional 19,690 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Pitney Bowes in the 2nd quarter worth $208,000. Finally, Marshall Wace LLP boosted its stake in Pitney Bowes by 248.1% in the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 503,378 shares during the period. 67.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Pitney Bowes Stock Down 0.4 %

Shares of Pitney Bowes stock opened at $7.07 on Thursday. Pitney Bowes Inc. has a 52 week low of $3.03 and a 52 week high of $7.70. The stock’s fifty day moving average is $6.98 and its two-hundred day moving average is $5.97. The company has a market capitalization of $1.26 billion, a PE ratio of -3.26, a price-to-earnings-growth ratio of 1.36 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Thursday, August 8th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. The business had revenue of $793.17 million for the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. As a group, research analysts anticipate that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

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.