Pitney Bowes Inc. (PBI) Shares Sold by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC cut its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 56.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,459 shares of the technology company’s stock after selling 16,289 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Pitney Bowes were worth $176,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Pitney Bowes by 1.5% during 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. Miller Howard Investments Inc. NY lifted its holdings in shares of Pitney Bowes by 32.9% during the third quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after buying an additional 1,259,978 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Pitney Bowes by 4.8% during the second quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock worth $63,479,000 after buying an additional 191,400 shares during the last quarter. Sirios Capital Management L P acquired a new position in shares of Pitney Bowes during the third quarter worth approximately $45,044,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Pitney Bowes by 13.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,389,740 shares of the technology company’s stock valued at $33,480,000 after purchasing an additional 279,697 shares in the last quarter. Institutional investors own 73.78% of the company’s stock.

Pitney Bowes Inc. (NYSE PBI) opened at $10.91 on Friday. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.42 and a quick ratio of 1.37. The company has a market capitalization of $2,037.20, a price-to-earnings ratio of 7.04 and a beta of 1.12. Pitney Bowes Inc. has a 12 month low of $9.50 and a 12 month high of $16.60.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st were paid a $0.1875 dividend. The ex-dividend date was Monday, November 20th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.87%. Pitney Bowes’s payout ratio is 156.25%.

A number of research analysts recently commented on PBI shares. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Loop Capital cut their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the 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.

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

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