Northwestern Mutual Wealth Management Co. grew its holdings in Pitney Bowes Inc. (NYSE:PBI – Get Rating) by 266.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 26,491 shares of the technology company’s stock after purchasing an additional 19,270 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Pitney Bowes were worth $138,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of PBI. Envestnet Asset Management Inc. grew its position in Pitney Bowes by 5.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 53,648 shares of the technology company’s stock worth $356,000 after acquiring an additional 2,961 shares during the last quarter. Byrne Asset Management LLC grew its position in Pitney Bowes by 241.5% during the 1st quarter. Byrne Asset Management LLC now owns 5,574 shares of the technology company’s stock worth $29,000 after acquiring an additional 3,942 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Pitney Bowes by 4.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 102,193 shares of the technology company’s stock worth $531,000 after acquiring an additional 4,609 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pitney Bowes by 25.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,521 shares of the technology company’s stock worth $122,000 after acquiring an additional 4,727 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new stake in Pitney Bowes during the 1st quarter worth $27,000. Institutional investors own 64.87% of the company’s stock.
In other Pitney Bowes news, Director Mary Guilfoile acquired 25,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were bought at an average cost of $3.48 per share, with a total value of $87,000.00. Following the purchase, the director now directly owns 101,930 shares of the company’s stock, valued at $354,716.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 32,348 shares of company stock valued at $111,829 in the last ninety days. 5.20% of the stock is owned by company insiders.
Pitney Bowes Stock Up 4.2 %
Shares of PBI opened at $3.20 on Friday. The company has a market capitalization of $556.41 million, a PE ratio of 16.00 and a beta of 2.22. Pitney Bowes Inc. has a 12 month low of $3.04 and a 12 month high of $8.20. The stock’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $4.40. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 49.71.
Pitney Bowes (NYSE:PBI – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $871.50 million during the quarter, compared to analyst estimates of $911.49 million. Pitney Bowes had a net margin of 0.97% and a return on equity of 59.58%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share.
Pitney Bowes Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Monday, August 22nd will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date is Friday, August 19th. Pitney Bowes’s dividend payout ratio is 100.00%.
Analyst Ratings Changes
Several research analysts have commented on PBI shares. StockNews.com raised Pitney Bowes from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. TheStreet downgraded Pitney Bowes from a “c” rating to a “d+” rating in a report on Thursday, July 28th.
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.
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