Victory Capital Management Inc. Sells 9,343 Shares of Pitney Bowes Inc. (NYSE:PBI)

Victory Capital Management Inc. trimmed its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,554 shares of the technology company’s stock after selling 9,343 shares during the period. Victory Capital Management Inc.’s holdings in Pitney Bowes were worth $232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Pitney Bowes during the second quarter valued at about $48,000. Point72 DIFC Ltd grew its stake in shares of Pitney Bowes by 218.0% in the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after purchasing an additional 7,819 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Pitney Bowes by 15.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after purchasing an additional 2,054 shares during the period. Fifth Third Bancorp grew its stake in shares of Pitney Bowes by 3,412.2% in the 2nd quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after purchasing an additional 16,174 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Pitney Bowes in the 2nd quarter valued at approximately $97,000. 67.88% of the stock is currently owned by institutional investors.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans bought 29,000 shares of Pitney Bowes stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now directly owns 29,000 shares of the company’s stock, valued at $226,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.30% of the stock is owned by company insiders.

Pitney Bowes Trading Down 1.0 %

PBI stock opened at $8.06 on Friday. Pitney Bowes Inc. has a 1-year low of $3.68 and a 1-year high of $8.80. The firm has a market cap of $1.46 billion, a P/E ratio of -3.70, a P/E/G ratio of 1.43 and a beta of 1.97. The business’s 50 day moving average is $7.33 and its 200-day moving average is $6.56.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. Sell-side analysts forecast that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, November 18th. Pitney Bowes’s payout ratio is currently -9.17%.

Analyst Ratings Changes

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

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.