Xponance Inc. Raises Holdings in Pitney Bowes Inc. (NYSE:PBI)

Xponance Inc. grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 36.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,283 shares of the technology company’s stock after acquiring an additional 3,837 shares during the quarter. Xponance Inc.’s holdings in Pitney Bowes were worth $103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBI. Hestia Capital Management LLC acquired a new position in Pitney Bowes during the 4th quarter valued at approximately $114,326,000. JPMorgan Chase & Co. grew its holdings in shares of Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after buying an additional 624,878 shares during the last quarter. Assenagon Asset Management S.A. increased 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 acquiring an additional 586,249 shares during the period. PEAK6 Investments LLC purchased a new position in Pitney Bowes in the 3rd quarter worth $3,470,000. Finally, Victory Capital Management Inc. lifted its position in Pitney Bowes by 1,356.4% during the 4th quarter. Victory Capital Management Inc. now owns 474,107 shares of the technology company’s stock worth $3,433,000 after acquiring an additional 441,553 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Trading Down 2.4 %

PBI opened at $9.31 on Friday. The firm has a 50 day moving average of $9.45 and a two-hundred day moving average of $8.08. The firm has a market capitalization of $1.70 billion, a PE ratio of -8.31, a P/E/G ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a dividend of $0.06 per share. 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%. The ex-dividend date was Friday, February 21st. Pitney Bowes’s dividend payout ratio (DPR) is currently -21.43%.

Insider Buying and Selling at Pitney Bowes

In related news, Director Kurt James Wolf sold 481,199 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the sale, the director now owns 584,636 shares in the company, valued at approximately $6,296,529.72. This trade represents a 45.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the transaction, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,974,484 shares of company stock valued at $19,815,631. 14.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Pitney Bowes 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.