Advisory Services Network LLC Takes $358,000 Position in Pitney Bowes Inc. (NYSE:PBI)

Advisory Services Network LLC bought a new stake in Pitney Bowes Inc. (NYSE:PBI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,398 shares of the technology company’s stock, valued at approximately $358,000.

Several other hedge funds have also recently added to or reduced their stakes in PBI. Meeder Asset Management Inc. bought a new stake in shares of Pitney Bowes in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its position in Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,873 shares during the period. Xponance Inc. raised its stake in Pitney Bowes by 36.7% during the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after acquiring an additional 3,837 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Pitney Bowes during the fourth quarter valued at $110,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Pitney Bowes by 11.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,878 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the completion of the transaction, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,974,484 shares of company stock valued at $19,815,631. Insiders own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st.

Pitney Bowes Trading Down 1.2 %

NYSE:PBI opened at $8.00 on Friday. The stock has a market capitalization of $1.46 billion, a P/E ratio of -7.14, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 1 year low of $3.94 and a 1 year high of $11.01. The firm has a 50 day moving average of $9.39 and a 200-day moving average of $8.21.

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

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were issued a dividend of $0.06 per share. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio is currently -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.