Pitney Bowes Inc. (NYSE:PBI) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 27.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,027 shares of the technology company’s stock after selling 4,077 shares during the period. CIBC Asset Management Inc’s holdings in Pitney Bowes were worth $80,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New York State Teachers Retirement System raised its stake in Pitney Bowes by 5.9% during the 3rd quarter. New York State Teachers Retirement System now owns 257,279 shares of the technology company’s stock valued at $1,834,000 after purchasing an additional 14,428 shares during the period. Fiducient Advisors LLC acquired a new stake in Pitney Bowes during the 3rd quarter valued at $143,000. James J. Burns & Company LLC acquired a new stake in Pitney Bowes during the 3rd quarter valued at $121,000. Los Angeles Capital Management LLC acquired a new stake in Pitney Bowes during the 3rd quarter valued at $1,395,000. Finally, GSA Capital Partners LLP raised its stake in Pitney Bowes by 94.8% during the 3rd quarter. GSA Capital Partners LLP now owns 89,352 shares of the technology company’s stock valued at $637,000 after purchasing an additional 43,489 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Up 1.3 %

Shares of NYSE:PBI opened at $10.85 on Thursday. The company’s fifty day moving average is $8.33 and its two-hundred day moving average is $7.65. Pitney Bowes Inc. has a 12-month low of $3.76 and a 12-month high of $11.00. The company has a market cap of $1.98 billion, a P/E ratio of -9.68, a price-to-earnings-growth ratio of 0.59 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. Equities research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 2.21%. Pitney Bowes’s dividend payout ratio is currently -21.43%.

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kurt James Wolf sold 78,285 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.66, for a total transaction of $834,518.10. Following the sale, the director now owns 606,289 shares of the company’s stock, valued at $6,463,040.74. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,405,593 shares of company stock worth $13,568,759. Corporate insiders own 14.30% of the company’s stock.

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.