Kingsview Wealth Management LLC Takes $2.90 Million Position in Pitney Bowes Inc. $PBI

Kingsview Wealth Management LLC purchased a new position in Pitney Bowes Inc. (NYSE:PBI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 265,341 shares of the technology company’s stock, valued at approximately $2,895,000. Kingsview Wealth Management LLC owned 0.15% of Pitney Bowes at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PBI. Alyeska Investment Group L.P. acquired a new position in shares of Pitney Bowes in the first quarter worth about $11,032,000. Hennessy Advisors Inc. purchased a new position in shares of Pitney Bowes in the second quarter worth about $12,660,000. Invesco Ltd. lifted its stake in Pitney Bowes by 38.9% in the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock worth $26,415,000 after purchasing an additional 817,953 shares in the last quarter. Deutsche Bank AG boosted its stake in Pitney Bowes by 493.1% during the first quarter. Deutsche Bank AG now owns 850,538 shares of the technology company’s stock worth $7,697,000 after buying an additional 707,133 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Pitney Bowes by 2,074.5% in the first quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company’s stock valued at $6,593,000 after purchasing an additional 694,982 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Buying and Selling

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of Pitney Bowes stock in a transaction on Wednesday, September 3rd. The shares were bought at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at approximately $35,910. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.00% of the company’s stock.

Pitney Bowes Trading Up 1.7%

Shares of PBI stock opened at $9.18 on Wednesday. Pitney Bowes Inc. has a 12 month low of $6.88 and a 12 month high of $13.11. The company has a market cap of $1.48 billion, a P/E ratio of 20.39, a PEG ratio of 0.57 and a beta of 1.27. The firm has a fifty day moving average price of $10.86 and a 200 day moving average price of $10.92.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $459.68 million for the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, equities analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes declared that its board has approved a share repurchase program on Wednesday, July 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. Pitney Bowes’s payout ratio is 80.00%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PBI. The Goldman Sachs Group initiated coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pitney Bowes in a research note on Thursday, November 13th. Finally, Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.00.

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.