Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its stake in Pitney Bowes Inc. (NYSE:PBI) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,000 shares of the technology company’s stock after purchasing an additional 1,878 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Pitney Bowes were worth $130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of Pitney Bowes by 1.1% in the fourth quarter. Swiss National Bank now owns 317,800 shares of the technology company’s stock valued at $2,301,000 after purchasing an additional 3,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Pitney Bowes by 7.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 519,740 shares of the technology company’s stock valued at $3,763,000 after acquiring an additional 37,009 shares during the period. American Assets Inc. raised its stake in Pitney Bowes by 80.6% during the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock valued at $941,000 after acquiring an additional 58,000 shares in the last quarter. AlphaQuest LLC acquired a new position in Pitney Bowes during the 4th quarter worth $468,000. Finally, Amundi grew its stake in shares of Pitney Bowes by 214.2% in the fourth quarter. Amundi now owns 95,718 shares of the technology company’s stock worth $695,000 after purchasing an additional 65,253 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kurt James Wolf sold 1,250,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the completion of the transaction, the director now owns 622,250 shares in the company, valued at $6,010,935. This trade represents a 66.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the transaction, the executive vice president now directly 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 three months, insiders have sold 1,974,484 shares of company stock worth $19,815,631. 14.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 3rd.

Pitney Bowes Trading Down 2.4 %

Shares of NYSE:PBI opened at $9.31 on Friday. The company has a 50 day moving average of $9.45 and a 200-day moving average of $8.08. The firm has a market cap of $1.70 billion, a P/E ratio of -8.31, a P/E/G ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a twelve month low of $3.90 and a twelve month 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, topping analysts’ consensus estimates 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 research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 2.58%. Pitney Bowes’s payout ratio is -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.