Thrivent Financial for Lutherans Sells 3,896 Shares of Pitney Bowes Inc. (NYSE:PBI)

Thrivent Financial for Lutherans decreased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 129,188 shares of the technology company’s stock after selling 3,896 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Pitney Bowes worth $656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock valued at $10,754,000 after buying an additional 21,811 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Pitney Bowes by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock valued at $2,639,000 after buying an additional 19,000 shares during the period. Rhumbline Advisers grew its holdings in shares of Pitney Bowes by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock valued at $2,581,000 after buying an additional 10,646 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Pitney Bowes by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock valued at $957,000 after buying an additional 8,305 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Pitney Bowes by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock valued at $935,000 after buying an additional 19,690 shares during the period. Institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Pitney Bowes Trading Down 2.5 %

Shares of NYSE PBI opened at $6.75 on Tuesday. The firm has a market cap of $1.21 billion, a PE ratio of -3.11, a PEG ratio of 1.29 and a beta of 1.97. Pitney Bowes Inc. has a 1-year low of $3.03 and a 1-year high of $7.70. The company has a fifty day moving average price of $6.82 and a 200 day moving average price of $5.75.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The firm had revenue of $793.17 million during the quarter, compared to analyst estimates of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) EPS. Equities research analysts forecast that Pitney Bowes Inc. will post 0.35 EPS for the current year.

Pitney Bowes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.97%. Pitney Bowes’s dividend payout ratio is -9.22%.

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.