Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,236 shares of the technology company’s stock after selling 5,764 shares during the period. Corebridge Financial Inc.’s holdings in Pitney Bowes were worth $624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBI. The Manufacturers Life Insurance Company grew its position in shares of Pitney Bowes by 33.6% during the third quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company’s stock worth $605,000 after acquiring an additional 21,367 shares during the last quarter. FMR LLC boosted its stake in Pitney Bowes by 3,308.0% during the 3rd quarter. FMR LLC now owns 320,152 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 310,758 shares during the period. BNP Paribas Financial Markets grew its position in Pitney Bowes by 31.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 209,169 shares of the technology company’s stock worth $1,491,000 after purchasing an additional 49,854 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pitney Bowes by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock valued at $347,000 after purchasing an additional 4,728 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pitney Bowes by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,422 shares of the technology company’s stock valued at $2,641,000 after buying an additional 8,973 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Trading Up 0.4 %

NYSE:PBI opened at $7.99 on Tuesday. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01. The stock’s 50 day simple moving average is $9.52 and its 200-day simple moving average is $8.16. The firm has a market cap of $1.46 billion, a P/E ratio of -7.13, a PEG ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. Research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a $0.06 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 3.00%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio (DPR) is presently -21.43%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the sale, the executive vice president now owns 176,145 shares of the company’s stock, valued at approximately $1,907,650.35. This trade represents a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the sale, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. 14.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st.

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.