AQR Capital Management LLC Buys Shares of 19,095 Pitney Bowes Inc. (NYSE:PBI)

AQR Capital Management LLC bought a new stake in Pitney Bowes Inc. (NYSE:PBI) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 19,095 shares of the technology company’s stock, valued at approximately $97,000.

A number of other large investors have also recently modified their holdings of PBI. Marshall Wace LLP boosted its holdings in shares of Pitney Bowes by 248.1% in the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after purchasing an additional 503,378 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Pitney Bowes by 144.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 428,194 shares of the technology company’s stock valued at $2,175,000 after purchasing an additional 253,076 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Pitney Bowes in the 1st quarter valued at $764,000. Squarepoint Ops LLC bought a new position in shares of Pitney Bowes in the 2nd quarter valued at $379,000. Finally, Intech Investment Management LLC bought a new position in shares of Pitney Bowes in the 2nd quarter valued at $324,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Up 1.4 %

Shares of NYSE:PBI opened at $7.16 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of -4.77, a P/E/G ratio of 1.34 and a beta of 1.97. Pitney Bowes Inc. has a 12-month low of $3.03 and a 12-month high of $7.70. The business has a fifty day simple moving average of $6.98 and a 200 day simple moving average of $5.90.

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

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s payout ratio is -13.33%.

Analyst Upgrades and Downgrades

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

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.