Smartleaf Asset Management LLC Boosts Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Smartleaf Asset Management LLC lifted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 130.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,078 shares of the technology company’s stock after buying an additional 2,873 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Pitney Bowes were worth $37,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. James J. Burns & Company LLC grew its stake in Pitney Bowes by 9.7% in the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,637 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Pitney Bowes by 10.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after purchasing an additional 2,020 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Pitney Bowes by 0.5% in the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after purchasing an additional 3,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pitney Bowes by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock valued at $347,000 after purchasing an additional 4,728 shares during the last quarter. Finally, Quarry LP lifted its position in Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after buying an additional 7,478 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $9.16 on Wednesday. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01. The firm has a 50 day moving average price of $8.89 and a 200 day moving average price of $7.85. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -8.17, a PEG ratio of 0.59 and a beta of 2.02.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data 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%. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, February 21st. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s payout ratio is -21.43%.

Insider Buying and Selling at Pitney Bowes

In other news, Director Kurt James Wolf sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the completion of the sale, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Arthur Fairweather sold 130,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the sale, the executive vice president now owns 176,145 shares of the company’s stock, valued at $1,907,650.35. The trade was a 42.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,974,484 shares of company stock valued at $19,815,631. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Pitney Bowes Company 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.