Choreo LLC grew its position in Pitney Bowes Inc. (NYSE:PBI – Free Report) by 45.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,807 shares of the technology company’s stock after acquiring an additional 15,588 shares during the period. Choreo LLC’s holdings in Pitney Bowes were worth $253,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in PBI. Cutter & CO Brokerage Inc. boosted its holdings in Pitney Bowes by 6.7% during the second quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after buying an additional 2,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after buying an additional 2,054 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Pitney Bowes by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after buying an additional 2,300 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Pitney Bowes by 7.5% during the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock worth $151,000 after buying an additional 2,440 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. boosted its holdings in Pitney Bowes by 2.1% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.
Pitney Bowes Trading Up 1.5 %
PBI stock opened at $7.02 on Thursday. The company has a market cap of $1.26 billion, a P/E ratio of -3.23, a P/E/G ratio of 1.27 and a beta of 1.98. Pitney Bowes Inc. has a 52 week low of $2.87 and a 52 week high of $7.70. The company’s 50-day moving average price is $6.76 and its 200 day moving average price is $5.48.
Pitney Bowes Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s payout ratio is currently -9.22%.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.
Read Our Latest Stock Report on Pitney Bowes
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.
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