Point72 DIFC Ltd Raises Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Point72 DIFC Ltd lifted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 218.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,405 shares of the technology company’s stock after acquiring an additional 7,819 shares during the quarter. Point72 DIFC Ltd’s holdings in Pitney Bowes were worth $58,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PBI. Bank of New York Mellon Corp boosted its position in Pitney Bowes by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after purchasing an additional 21,811 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Pitney Bowes by 58.2% in the 4th quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock worth $4,145,000 after buying an additional 349,599 shares in the last quarter. Marshall Wace LLP grew its stake in Pitney Bowes by 248.1% in the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after acquiring an additional 503,378 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Pitney Bowes by 3.8% during the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock valued at $2,639,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Pitney Bowes by 2.1% during the second quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after acquiring an additional 10,646 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $7.11 on Friday. Pitney Bowes Inc. has a fifty-two week low of $2.94 and a fifty-two week high of $7.70. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.28, a PEG ratio of 1.36 and a beta of 1.98. The stock has a fifty day moving average of $6.80 and a two-hundred day moving average of $5.61.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The firm had revenue of $793.17 million during the quarter, compared to analysts’ expectations of $771.65 million. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. On average, analysts forecast that Pitney Bowes Inc. will post 0.35 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.20 dividend on an annualized basis and a yield of 2.81%. Pitney Bowes’s dividend payout ratio (DPR) is currently -9.22%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

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.