Pitney Bowes (NYSE:PBI) Hits New 1-Year High – Time to Buy?

Pitney Bowes Inc. (NYSE:PBI)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $11.00 and last traded at $10.61, with a volume of 4088895 shares trading hands. The stock had previously closed at $10.32.

Pitney Bowes Trading Down 0.9 %

The stock has a market capitalization of $1.97 billion, a PE ratio of -9.61, a PEG ratio of 0.59 and a beta of 2.01. The business’s 50-day moving average is $8.40 and its two-hundred day moving average is $7.67.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping 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%. On average, analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.23%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio (DPR) is currently -21.43%.

Insider Transactions at Pitney Bowes

In other news, EVP James Arthur Fairweather sold 130,000 shares of Pitney Bowes stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at approximately $1,907,650.35. The trade was a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kurt James Wolf sold 78,285 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.66, for a total value 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,535,593 shares of company stock valued at $14,976,659. Corporate insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in Pitney Bowes in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings in Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after acquiring an additional 2,873 shares in the last quarter. Quarry LP increased its position in shares of Pitney Bowes by 889.2% in the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after purchasing an additional 7,478 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Pitney Bowes in the 3rd quarter valued at about $86,000. Finally, Xponance Inc. lifted its position in shares of 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 purchasing an additional 3,837 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Company 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.