68,814 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,814 shares of the technology company’s stock, valued at approximately $498,000.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Pitney Bowes by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock valued at $5,563,000 after purchasing an additional 30,658 shares during the last quarter. Hestia Capital Management LLC purchased a new position in Pitney Bowes in the fourth quarter valued at approximately $114,326,000. James J. Burns & Company LLC increased its stake in Pitney Bowes by 9.7% in the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,637 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock valued at $150,000 after purchasing an additional 2,020 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in Pitney Bowes by 0.5% in the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after purchasing an additional 3,100 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction on Friday, November 29th. The shares were sold at an average price of $8.12, for a total value of $343,540.96. Following the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at $151,551.68. This trade represents a 69.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kurt James Wolf sold 78,285 shares of Pitney Bowes stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.66, for a total transaction of $834,518.10. Following the completion of the transaction, the director now owns 606,289 shares in the company, valued at approximately $6,463,040.74. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,405,593 shares of company stock valued at $13,568,759 in the last ninety days. 14.30% of the stock is currently owned by company insiders.

Pitney Bowes Trading Down 3.3 %

Shares of PBI opened at $10.34 on Monday. The company’s 50 day simple moving average is $8.22 and its 200-day simple moving average is $7.59. The firm has a market cap of $1.88 billion, a PE ratio of -9.23, a price-to-earnings-growth ratio of 0.59 and a beta of 2.01. Pitney Bowes Inc. has a 12-month low of $3.73 and a 12-month high of $10.95.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, equities research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. Pitney Bowes’s payout ratio is presently -21.43%.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.