Rhumbline Advisers Sells 6,467 Shares of Pitney Bowes Inc. (NYSE:PBI)

Rhumbline Advisers cut its stake in Pitney Bowes Inc. (NYSE:PBI) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,798 shares of the technology company’s stock after selling 6,467 shares during the period. Rhumbline Advisers owned approximately 0.26% of Pitney Bowes worth $3,466,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PBI. Hestia Capital Management LLC acquired a new position in Pitney Bowes in the fourth quarter valued at about $114,326,000. Geode Capital Management LLC increased its holdings in Pitney Bowes by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock valued at $25,878,000 after buying an additional 51,093 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Pitney Bowes by 47.7% in 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 buying an additional 586,249 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 624,878 shares during the period. Finally, Westside Investment Management Inc. boosted its position in shares of Pitney Bowes by 0.5% during the 4th quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock worth $4,532,000 after acquiring an additional 3,100 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the sale, the director now owns 622,250 shares of the company’s stock, valued at $6,010,935. This trade represents a 66.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value 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. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,493,285 shares of company stock valued at $14,633,118. 14.30% of the stock is currently owned by corporate insiders.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $10.82 on Friday. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -9.66, a price-to-earnings-growth ratio of 0.59 and a beta of 2.01. The company’s 50 day simple moving average is $8.54 and its 200 day simple moving average is $7.72.

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

Pitney Bowes Increases Dividend

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

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.