Assenagon Asset Management S.A. Purchases 586,249 Shares of Pitney Bowes Inc. (NYSE:PBI)

Assenagon Asset Management S.A. grew its stake in Pitney Bowes Inc. (NYSE:PBI) by 47.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,814,811 shares of the technology company’s stock after acquiring an additional 586,249 shares during the period. Assenagon Asset Management S.A. owned 1.00% of Pitney Bowes worth $13,139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Pitney Bowes by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock valued at $25,878,000 after buying an additional 51,093 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after purchasing an additional 624,878 shares during the last quarter. Marshall Wace LLP boosted its position in Pitney Bowes by 248.1% during the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 503,378 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Pitney Bowes by 3.8% during the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock worth $2,639,000 after buying an additional 19,000 shares during the period. Finally, PEAK6 Investments LLC bought a new position in Pitney Bowes in the 3rd quarter valued at about $3,470,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Trading Down 0.8 %

NYSE:PBI opened at $7.24 on Friday. The stock has a 50 day simple moving average of $7.56 and a 200 day simple moving average of $7.12. Pitney Bowes Inc. has a 1-year low of $3.68 and a 1-year high of $8.80. The stock has a market cap of $1.32 billion, a P/E ratio of -3.32, a PEG ratio of 0.44 and a beta of 2.00.

Pitney Bowes (NYSE:PBI) last announced its 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. The company had revenue of $499.46 million for 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%. As a group, sell-side analysts forecast that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 2.76%. Pitney Bowes’s payout ratio is -9.17%.

Insiders Place Their Bets

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s 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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Evans acquired 29,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares in the company, valued at $226,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company’s stock.

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.