Teachers Advisors LLC decreased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 521,906 shares of the company’s stock after selling 16,516 shares during the period. Teachers Advisors LLC owned about 0.28% of Pitney Bowes worth $9,478,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Pitney Bowes during the second quarter valued at about $185,000. Bank of The West acquired a new stake in shares of Pitney Bowes during the third quarter worth $187,000. Private Advisor Group LLC acquired a new stake in shares of Pitney Bowes during the second quarter worth $210,000. Reik & CO. LLC raised its stake in shares of Pitney Bowes by 21.7% in the second quarter. Reik & CO. LLC now owns 11,824 shares of the company’s stock worth $210,000 after buying an additional 2,110 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of Pitney Bowes during the second quarter worth $212,000. Institutional investors and hedge funds own 81.30% of the company’s stock.
Shares of Pitney Bowes Inc. (NYSE:PBI) traded up 0.586% on Wednesday, hitting $16.295. 854,349 shares of the company traded hands. Pitney Bowes Inc. has a 1-year low of $14.22 and a 1-year high of $21.81. The firm’s 50 day moving average price is $15.46 and its 200-day moving average price is $17.10. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 11.860 and a beta of 1.33.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.02. The company earned $839 million during the quarter, compared to the consensus estimate of $851.82 million. Pitney Bowes had a return on equity of 256.96% and a net margin of 8.02%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, equities research analysts expect that Pitney Bowes Inc. will post $1.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Monday, November 21st were given a $0.1875 dividend. The ex-dividend date was Thursday, November 17th. This represents a $0.75 dividend on an annualized basis and a yield of 4.63%. Pitney Bowes’s dividend payout ratio is presently 54.74%.
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A number of brokerages have recently weighed in on PBI. Brean Capital restated a “buy” rating and issued a $20.00 price objective (down from $24.00) on shares of Pitney Bowes in a report on Wednesday, November 2nd. Zacks Investment Research upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, December 6th. Finally, TheStreet lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st.
In other Pitney Bowes news, insider Marc Bradley Lautenbach bought 4,739 shares of Pitney Bowes stock in a transaction on Wednesday, November 2nd. The shares were acquired at an average price of $14.76 per share, for a total transaction of $69,947.64. Following the completion of the purchase, the insider now directly owns 80,937 shares in the company, valued at approximately $1,194,630.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Guidotti bought 3,405 shares of Pitney Bowes stock in a transaction on Friday, November 18th. The stock was acquired at an average price of $14.70 per share, for a total transaction of $50,053.50. Following the purchase, the executive vice president now owns 3,405 shares of the company’s stock, valued at $50,053.50. The disclosure for this purchase can be found here. 1.43% of the stock is owned by corporate insiders.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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