The Manufacturers Life Insurance Company Has $589,000 Holdings in Pitney Bowes Inc. (NYSE:PBI)

The Manufacturers Life Insurance Company cut its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,313 shares of the technology company’s stock after selling 3,580 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Pitney Bowes were worth $589,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PBI. Barclays PLC increased its position in shares of Pitney Bowes by 298.5% during the third quarter. Barclays PLC now owns 277,469 shares of the technology company’s stock worth $1,977,000 after buying an additional 207,838 shares during the period. Franklin Resources Inc. grew its holdings in Pitney Bowes by 593.2% in the third quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company’s stock worth $751,000 after purchasing an additional 91,251 shares during the period. Assenagon Asset Management S.A. grew its holdings in Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after purchasing an additional 586,249 shares during the period. Westside Investment Management Inc. grew its holdings in Pitney Bowes by 0.5% in the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock worth $4,532,000 after purchasing an additional 3,100 shares during the period. Finally, First Citizens Bank & Trust Co. grew its holdings in Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after purchasing an additional 2,020 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Sidoti upgraded shares of Pitney Bowes to a “hold” rating in a report on Monday, May 5th. StockNews.com cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Pitney Bowes Trading Down 0.9%

NYSE:PBI opened at $9.46 on Friday. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.44, a PEG ratio of 0.59 and a beta of 1.47. The firm has a fifty day simple moving average of $8.81 and a two-hundred day simple moving average of $8.48. Pitney Bowes Inc. has a 12 month low of $4.62 and a 12 month high of $11.01.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The firm had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. During the same period last year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, May 19th. Pitney Bowes’s dividend payout ratio (DPR) is -30.77%.

Insider Buying and Selling at Pitney Bowes

In related news, EVP James Arthur Fairweather sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the transaction, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at $1,907,650.35. This trade represents a 42.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kurt James Wolf sold 481,199 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the transaction, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. The trade was a 45.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 613,244 shares of company stock valued at $6,607,591. Corporate insiders own 9.00% of the company’s stock.

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.