Pitney Bowes (NYSE:PBI) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Pitney Bowes (NYSE:PBI) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

Pitney Bowes Stock Performance

PBI opened at $9.07 on Monday. The company has a fifty day moving average of $9.49 and a two-hundred day moving average of $8.10. Pitney Bowes has a fifty-two week low of $3.90 and a fifty-two week high of $11.01. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -8.10, a PEG ratio of 0.59 and a beta of 2.02.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Pitney Bowes will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $0.06 per share. The ex-dividend date was 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 dividend yield of 2.65%. Pitney Bowes’s dividend payout ratio is currently -21.43%.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now owns 176,145 shares of the company’s stock, valued at approximately $1,907,650.35. This trade represents a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $315,700.00. Following the completion of the transaction, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Pitney Bowes

Several institutional investors and hedge funds have recently made changes to their positions in PBI. American Assets Investment Management LLC purchased a new position in Pitney Bowes during the 4th quarter worth $941,000. Mackenzie Financial Corp lifted its stake in shares of Pitney Bowes by 495.7% in the fourth quarter. Mackenzie Financial Corp now owns 67,558 shares of the technology company’s stock valued at $489,000 after purchasing an additional 56,217 shares during the period. PharVision Advisers LLC acquired a new position in Pitney Bowes during the fourth quarter worth about $107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Pitney Bowes by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,051 shares of the technology company’s stock valued at $2,882,000 after acquiring an additional 27,629 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Pitney Bowes by 1.2% during the 4th quarter. Two Sigma Investments LP now owns 807,414 shares of the technology company’s stock worth $5,846,000 after acquiring an additional 9,471 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.