Federated Hermes Inc. cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI – Free Report) by 11.2% in the 4th quarter, HoldingsChannel reports. The firm owned 68,675 shares of the technology company’s stock after selling 8,641 shares during the period. Federated Hermes Inc.’s holdings in Pitney Bowes were worth $302,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Strs Ohio increased its stake in Pitney Bowes by 98.5% in the third quarter. Strs Ohio now owns 52,000 shares of the technology company’s stock valued at $157,000 after acquiring an additional 25,800 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Pitney Bowes by 50.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock valued at $56,000 after buying an additional 6,279 shares in the last quarter. Capital Management Corp VA lifted its position in Pitney Bowes by 2.3% in the 3rd quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after buying an additional 104,190 shares during the last quarter. Syon Capital LLC purchased a new stake in Pitney Bowes in the third quarter worth approximately $32,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in Pitney Bowes in the third quarter worth approximately $327,000. Institutional investors own 67.88% of the company’s stock.
Pitney Bowes Stock Performance
Shares of PBI stock opened at $5.27 on Friday. Pitney Bowes Inc. has a fifty-two week low of $2.80 and a fifty-two week high of $5.51. The firm has a market cap of $936.32 million, a P/E ratio of -2.43, a P/E/G ratio of 35.00 and a beta of 2.14. The business’s 50 day moving average price is $4.18 and its 200-day moving average price is $4.08.
Pitney Bowes Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, May 22nd. Pitney Bowes’s dividend payout ratio is presently -9.22%.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Friday.
View Our Latest Analysis on PBI
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.
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