Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in Pitney Bowes Inc. (NYSE:PBI) by 32.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,702 shares of the technology company’s stock after purchasing an additional 15,024 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pitney Bowes were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Equitable Trust Co. raised its stake in Pitney Bowes by 84.4% during the 1st quarter. Equitable Trust Co. now owns 79,654 shares of the technology company’s stock valued at $310,000 after acquiring an additional 36,449 shares during the last quarter. Federated Hermes Inc. raised its stake in Pitney Bowes by 15.9% during the 1st quarter. Federated Hermes Inc. now owns 46,587 shares of the technology company’s stock valued at $181,000 after acquiring an additional 6,395 shares during the last quarter. Capital Management Corp VA raised its stake in Pitney Bowes by 24.2% during the 1st quarter. Capital Management Corp VA now owns 3,481,750 shares of the technology company’s stock valued at $13,544,000 after acquiring an additional 677,710 shares during the last quarter. Barclays PLC raised its stake in Pitney Bowes by 11.7% during the 1st quarter. Barclays PLC now owns 90,983 shares of the technology company’s stock valued at $355,000 after acquiring an additional 9,506 shares during the last quarter. Finally, Wealth Effects LLC raised its stake in Pitney Bowes by 9.3% during the 1st quarter. Wealth Effects LLC now owns 148,490 shares of the technology company’s stock valued at $578,000 after acquiring an additional 12,578 shares during the last quarter. 70.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Pitney Bowes in a research note on Thursday, August 17th. They set a “hold” rating for the company.

Pitney Bowes Stock Performance

Shares of PBI stock opened at $3.29 on Tuesday. The company has a market cap of $579.14 million, a price-to-earnings ratio of -4.22, a price-to-earnings-growth ratio of 4.39 and a beta of 2.22. The stock has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $3.62. Pitney Bowes Inc. has a 12-month low of $2.30 and a 12-month high of $4.85. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 31.86.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, August 3rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $776.50 million for the quarter, compared to analysts’ expectations of $809.61 million. Pitney Bowes had a positive return on equity of 9.19% and a negative net margin of 4.10%. The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period last year, the company posted $0.02 earnings per share. On average, equities analysts forecast that Pitney Bowes Inc. will post 0.05 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Monday, August 21st. Pitney Bowes’s dividend payout ratio (DPR) is -25.64%.

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, Canada, and internationally. It operates through Global Ecommerce, Presort Services, and Sending Technology Solutions (SendTech Solutions) segments.