Jupiter Topco LLC bought a new position in Pitney Bowes Inc. (NYSE:PBI – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 58,932 shares of the technology company’s stock, valued at approximately $1,033,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PBI. Longview Financial Advisors Inc. bought a new stake in shares of Pitney Bowes in the 1st quarter valued at approximately $26,000. Plato Investment Management Ltd bought a new position in Pitney Bowes during the second quarter valued at approximately $55,000. EverSource Wealth Advisors LLC lifted its stake in Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after acquiring an additional 1,015 shares during the last quarter. Hantz Financial Services Inc. grew its position in Pitney Bowes by 190.9% in the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after acquiring an additional 2,459 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Pitney Bowes by 404.6% during the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock worth $43,000 after purchasing an additional 3,225 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes Stock Down 1.5%
Shares of NYSE PBI opened at $17.32 on Friday. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $19.07. The company has a market cap of $2.37 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.70 and a beta of 1.64. The business’s 50 day moving average is $17.41 and its two-hundred day moving average is $14.92.
Pitney Bowes Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes’s dividend payout ratio is 32.79%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on PBI. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their target price for the company from $9.50 to $16.50 in a report on Monday, May 11th. Citizens Jmp boosted their price target on Pitney Bowes from $19.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Truist Financial upped their price target on Pitney Bowes from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Pitney Bowes presently has an average rating of “Moderate Buy” and a consensus target price of $18.45.
Get Our Latest Stock Report on Pitney Bowes
Insider Buying and Selling at Pitney Bowes
In other news, CEO Kurt Wolf sold 1,920 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.42, for a total transaction of $33,446.40. Following the completion of the transaction, the chief executive officer owned 122,790 shares of the company’s stock, valued at approximately $2,139,001.80. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Todd A. Everett sold 25,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $18.07, for a total transaction of $451,750.00. Following the completion of the sale, the executive vice president owned 96,048 shares of the company’s stock, valued at approximately $1,735,587.36. The trade was a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,419,467 shares of company stock worth $42,373,690 over the last 90 days. Company insiders own 6.50% of the company’s stock.
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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