Pitney Bowes Inc. (PBI) Stake Boosted by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC increased its position in Pitney Bowes Inc. (NYSE:PBI) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,354,455 shares of the technology company’s stock after buying an additional 162,000 shares during the period. Pitney Bowes makes up 0.8% of Chartwell Investment Partners LLC’s holdings, making the stock its 17th largest position. Chartwell Investment Partners LLC owned 0.73% of Pitney Bowes worth $20,452,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after buying an additional 20,918,761 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Pitney Bowes by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 9,271,892 shares of the technology company’s stock worth $140,005,000 after buying an additional 137,446 shares during the last quarter. LSV Asset Management boosted its stake in shares of Pitney Bowes by 5.4% in the first quarter. LSV Asset Management now owns 4,012,566 shares of the technology company’s stock worth $52,604,000 after buying an additional 205,000 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of Pitney Bowes during the first quarter worth approximately $50,988,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Pitney Bowes by 54.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,217,500 shares of the technology company’s stock worth $29,071,000 after buying an additional 782,900 shares during the last quarter. 76.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 12.68 on Friday. Pitney Bowes Inc. has a 1-year low of $12.31 and a 1-year high of $19.10. The firm has a market capitalization of $2.37 billion, a PE ratio of 24.91 and a beta of 1.17. The firm’s 50 day moving average is $14.48 and its 200 day moving average is $14.17.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Analysts anticipate that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a yield of 5.91%. Pitney Bowes’s dividend payout ratio is currently 144.23%.

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A number of brokerages recently commented on PBI. Zacks Investment Research cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Sidoti cut shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Pitney Bowes has an average rating of “Hold” and a consensus target price of $17.50.

Pitney Bowes Company Profile

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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