Mutual of America Capital Management LLC Cuts Holdings in Pitney Bowes Inc. (NYSE:PBI)

Mutual of America Capital Management LLC decreased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,489 shares of the technology company’s stock after selling 2,090 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pitney Bowes were worth $167,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Pitney Bowes by 1.0% during the 2nd 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 during the period. Assenagon Asset Management S.A. increased its holdings in shares of Pitney Bowes by 2,894.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after acquiring an additional 1,187,531 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of 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 shares of Pitney Bowes by 3.8% in 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 during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Pitney Bowes by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock valued at $2,581,000 after acquiring an additional 10,646 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Activity at Pitney Bowes

In related news, Director Paul J. Evans acquired 29,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $7.80 per share, with a total value of $226,200.00. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at $226,200. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 14.30% of the company’s stock.

Pitney Bowes Stock Performance

PBI opened at $8.06 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of -3.70, a PEG ratio of 1.43 and a beta of 1.97. Pitney Bowes Inc. has a one year low of $3.68 and a one year high of $8.80. The business’s 50-day simple moving average is $7.33 and its 200-day simple moving average is $6.55.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The firm had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. As a group, analysts predict that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $0.05 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.48%. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

About Pitney Bowes

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.