HighTower Advisors LLC Has $476,000 Position in Pitney Bowes Inc. (NYSE:PBI)

HighTower Advisors LLC trimmed its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,704 shares of the technology company’s stock after selling 5,925 shares during the period. HighTower Advisors LLC’s holdings in Pitney Bowes were worth $476,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Pitney Bowes in the second quarter valued at approximately $48,000. Point72 DIFC Ltd grew its stake in shares of Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after buying an additional 7,819 shares in the last quarter. Truvestments Capital LLC acquired a new position in Pitney Bowes during the third quarter worth $86,000. Envestnet Portfolio Solutions Inc. raised its position in Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after acquiring an additional 2,054 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Pitney Bowes by 101.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company’s stock valued at $117,000 after acquiring an additional 8,221 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Insider Activity

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

Pitney Bowes Price Performance

Pitney Bowes stock opened at $7.23 on Friday. Pitney Bowes Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $8.80. The firm has a market capitalization of $1.31 billion, a PE ratio of -3.32, a P/E/G ratio of 1.35 and a beta of 1.97. The company’s 50-day moving average is $7.56 and its 200-day moving average is $6.81.

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

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.77%. Pitney Bowes’s dividend payout ratio is currently -9.17%.

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.