Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 33.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 84,893 shares of the technology company’s stock after acquiring an additional 21,367 shares during the period. The Manufacturers Life Insurance Company’s holdings in Pitney Bowes were worth $605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Pitney Bowes by 89.7% during the second quarter. SG Americas Securities LLC now owns 45,657 shares of the technology company’s stock valued at $232,000 after acquiring an additional 21,594 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after purchasing an additional 2,054 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Pitney Bowes during the 2nd quarter valued at $208,000. Fifth Third Bancorp lifted its holdings in shares of Pitney Bowes by 3,412.2% in the second quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after purchasing an additional 16,174 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Pitney Bowes by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after buying an additional 2,300 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Price Performance

Shares of PBI opened at $7.71 on Friday. The business’s 50-day moving average is $7.51 and its 200-day moving average is $6.74. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.54, a P/E/G ratio of 1.39 and a beta of 1.97. Pitney Bowes Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $8.80.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The firm had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Equities research analysts expect that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.59%. Pitney Bowes’s dividend payout ratio is -9.17%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans purchased 29,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the purchase, the director now directly owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the transaction, the executive vice president now owns 18,664 shares in the company, valued at $151,551.68. This represents a 69.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 14.30% of the company’s stock.

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.