Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Pitney Bowes Inc. (NYSE:PBI) by 182.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 967,384 shares of the technology company’s stock after purchasing an additional 624,878 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of Pitney Bowes worth $6,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in shares of Pitney Bowes by 593.2% in the third quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company’s stock valued at $751,000 after buying an additional 91,251 shares in the last quarter. Optimist Retirement Group LLC acquired a new stake in Pitney Bowes in the third quarter valued at $252,000. Sanctuary Advisors LLC purchased a new stake in shares of Pitney Bowes during the 3rd quarter worth $569,000. Geode Capital Management LLC grew its stake in shares of Pitney Bowes by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock worth $25,878,000 after purchasing an additional 51,093 shares during the period. Finally, Barclays PLC increased its holdings in shares of Pitney Bowes by 298.5% in the 3rd quarter. Barclays PLC now owns 277,469 shares of the technology company’s stock valued at $1,977,000 after purchasing an additional 207,838 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insider Transactions at Pitney Bowes

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

Pitney Bowes Stock Up 3.0 %

Shares of NYSE PBI opened at $7.28 on Thursday. The firm has a 50-day moving average price of $7.58 and a 200 day moving average price of $7.10. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.34, a price-to-earnings-growth ratio of 1.35 and a beta of 2.00.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. The business had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Equities research analysts expect that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Monday, November 18th. Pitney Bowes’s dividend payout ratio is currently -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.