Principal Financial Group Inc. Purchases 5,092 Shares of Pitney Bowes Inc. (PBI)

Principal Financial Group Inc. boosted its position in Pitney Bowes Inc. (NYSE:PBI) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 795,001 shares of the technology company’s stock after acquiring an additional 5,092 shares during the period. Principal Financial Group Inc. owned 0.43% of Pitney Bowes worth $11,138,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Eaton Vance Management lifted its holdings in shares of Pitney Bowes by 0.3% in the second quarter. Eaton Vance Management now owns 54,293 shares of the technology company’s stock valued at $820,000 after purchasing an additional 142 shares in the last quarter. Ifrah Financial Services Inc. lifted its holdings in shares of Pitney Bowes by 1.3% in the second quarter. Ifrah Financial Services Inc. now owns 18,025 shares of the technology company’s stock valued at $272,000 after purchasing an additional 238 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Pitney Bowes by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 15,054 shares of the technology company’s stock valued at $227,000 after purchasing an additional 251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Pitney Bowes by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after purchasing an additional 748 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Pitney Bowes by 1.3% in the second quarter. Public Employees Retirement System of Ohio now owns 60,488 shares of the technology company’s stock valued at $913,000 after purchasing an additional 784 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Pitney Bowes Inc. (PBI) traded down $0.39 during mid-day trading on Friday, hitting $10.28. The stock had a trading volume of 3,689,697 shares, compared to its average volume of 3,030,935. Pitney Bowes Inc. has a 52 week low of $9.50 and a 52 week high of $16.60. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. The company has a market capitalization of $1,919.56, a price-to-earnings ratio of 6.63 and a beta of 1.13.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). The company had revenue of $842.82 million during the quarter, compared to the consensus estimate of $837.60 million. Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. research analysts expect that Pitney Bowes Inc. will post 1.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date of this dividend is Monday, November 20th. Pitney Bowes’s payout ratio is 156.25%.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “strong sell” rating in a report on Monday, November 6th. Loop Capital dropped their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, November 2nd. ValuEngine upgraded Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cross Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, BidaskClub upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.50.

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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 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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