UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Pitney Bowes Inc. (NYSE:PBI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pitney Bowes Inc. (NYSE:PBI) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,422 shares of the technology company’s stock after purchasing an additional 8,973 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Pitney Bowes worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PBI. nVerses Capital LLC purchased a new stake in Pitney Bowes in the 2nd quarter worth approximately $48,000. Point72 DIFC Ltd raised its holdings in shares of Pitney Bowes by 218.0% during the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after acquiring an additional 7,819 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after acquiring an additional 2,054 shares during the period. Fifth Third Bancorp boosted its holdings in Pitney Bowes by 3,412.2% in the second quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after acquiring an additional 16,174 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Pitney Bowes in the third quarter valued at $86,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Evans purchased 29,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the transaction, the director now owns 29,000 shares in the company, valued at approximately $226,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 14.30% of the company’s stock.

Pitney Bowes Price Performance

Shares of PBI opened at $7.71 on Friday. The company has a 50-day simple moving average of $7.51 and a two-hundred day simple moving average of $6.74. The firm has a market capitalization of $1.40 billion, a PE ratio of -3.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.97. Pitney Bowes Inc. has a one year low of $3.68 and a one year high of $8.80.

Pitney Bowes (NYSE:PBI) last released its earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. The company had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Analysts expect that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio is currently -9.17%.

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.