Fmr LLC Purchases 310,758 Shares of Pitney Bowes Inc. (NYSE:PBI)

Fmr LLC boosted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 3,308.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,152 shares of the technology company’s stock after purchasing an additional 310,758 shares during the period. Fmr LLC owned about 0.18% of Pitney Bowes worth $2,283,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PBI. Assenagon Asset Management S.A. raised its stake in shares of Pitney Bowes by 2,894.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock worth $8,760,000 after acquiring an additional 1,187,531 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Pitney Bowes by 248.1% in the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after acquiring an additional 503,378 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pitney Bowes in the third quarter worth about $3,442,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Pitney Bowes in the second quarter worth about $1,582,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Pitney Bowes by 144.5% in the second quarter. Cubist Systematic Strategies LLC now owns 428,194 shares of the technology company’s stock worth $2,175,000 after acquiring an additional 253,076 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

Insider Activity

In other Pitney Bowes news, Director Paul J. Evans bought 29,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the acquisition, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the transaction, the executive vice president now owns 18,664 shares of the company’s stock, valued at $151,551.68. The trade was a 69.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Pitney Bowes Stock Down 2.8 %

Pitney Bowes stock opened at $7.71 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of -3.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.97. Pitney Bowes Inc. has a twelve month low of $3.68 and a twelve month high of $8.80. The company has a 50 day moving average of $7.51 and a 200-day moving average of $6.74.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Equities analysts anticipate that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

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.