Pitney Bowes Inc. (NYSE:PBI) Holdings Lowered by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its stake in Pitney Bowes Inc. (NYSE:PBI) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,023 shares of the technology company’s stock after selling 6,825 shares during the quarter. Sanctuary Advisors LLC’s holdings in Pitney Bowes were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hestia Capital Management LLC purchased a new position in shares of Pitney Bowes in the fourth quarter worth approximately $114,326,000. JPMorgan Chase & Co. grew its position in Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after purchasing an additional 624,878 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Pitney Bowes by 47.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after purchasing an additional 586,249 shares during the period. PEAK6 Investments LLC purchased a new stake in shares of Pitney Bowes in the third quarter valued at $3,470,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Pitney Bowes in the third quarter worth $3,442,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insiders Place Their Bets

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the company’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 transaction, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at $1,907,650.35. This represents a 42.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kurt James Wolf sold 78,285 shares of Pitney Bowes stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.66, for a total value of $834,518.10. Following the sale, the director now owns 606,289 shares of the company’s stock, valued at approximately $6,463,040.74. This represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,493,285 shares of company stock worth $14,633,118 in the last quarter. 14.30% of the stock is currently owned by corporate insiders.

Pitney Bowes Trading Up 0.4 %

NYSE:PBI opened at $10.82 on Friday. The business’s fifty day moving average price is $8.54 and its 200 day moving average price is $7.72. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -9.66, a PEG ratio of 0.59 and a beta of 2.01. Pitney Bowes Inc. has a 1-year low of $3.90 and a 1-year high of $11.01.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio is currently -21.43%.

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.