Pitney Bowes Inc. (NYSE:PBI – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.25 and last traded at $18.0150, with a volume of 625363 shares changing hands. The stock had previously closed at $18.12.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Citigroup reiterated a “market outperform” rating on shares of Pitney Bowes in a report on Tuesday, June 16th. The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a research note on Friday, May 8th. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.43.
Read Our Latest Stock Analysis on PBI
Pitney Bowes Stock Performance
Pitney Bowes (NYSE:PBI – Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million during the quarter, compared to analyst estimates of $471.83 million. During the same period last year, the firm posted $0.33 earnings per share. Pitney Bowes’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.
Pitney Bowes Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently 38.83%.
Insiders Place Their Bets
In other news, CEO Kurt James Wolf sold 966,561 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38. Following the sale, the chief executive officer directly owned 452,628 shares in the company, valued at $6,599,316.24. The trade was a 68.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Pfeiffer sold 18,750 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.06, for a total transaction of $301,125.00. Following the sale, the executive vice president owned 97,828 shares in the company, valued at $1,571,117.68. This represents a 16.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,869,808 shares of company stock valued at $44,888,304 over the last three months. Corporate insiders own 6.50% of the company’s stock.
Institutional Investors Weigh In On Pitney Bowes
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Pitney Bowes by 133.1% in the 1st quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock valued at $478,000 after purchasing an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pitney Bowes by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company’s stock valued at $882,000 after purchasing an additional 5,149 shares during the last quarter. United Services Automobile Association bought a new position in shares of Pitney Bowes during the 1st quarter valued at approximately $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Pitney Bowes by 18.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company’s stock valued at $4,258,000 after buying an additional 72,437 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Pitney Bowes by 15.5% during the 1st quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company’s stock valued at $1,768,000 after buying an additional 26,260 shares during the period. 67.88% of the stock is owned by institutional investors.
Pitney Bowes Company Profile
Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.
The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.
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