BNP Paribas Financial Markets Has $558,000 Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

BNP Paribas Financial Markets cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 63.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,129 shares of the technology company’s stock after selling 132,040 shares during the period. BNP Paribas Financial Markets’ holdings in Pitney Bowes were worth $558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Pitney Bowes during the fourth quarter worth $31,000. Smartleaf Asset Management LLC raised its position in shares of Pitney Bowes by 130.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,873 shares during the period. Xponance Inc. raised its position in shares of Pitney Bowes by 36.7% during the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after purchasing an additional 3,837 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Pitney Bowes during the fourth quarter worth $110,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,878 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kurt James Wolf sold 481,199 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the completion of the sale, the director now owns 584,636 shares in the company, valued at approximately $6,296,529.72. This represents a 45.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Arthur Fairweather sold 130,000 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 613,244 shares of company stock valued at $6,607,591 in the last three months. Insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PBI shares. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 15th. Sidoti raised Pitney Bowes to a “hold” rating in a research report on Monday, May 5th.

Pitney Bowes Trading Up 0.7%

NYSE:PBI opened at $10.03 on Friday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -8.95, a PEG ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a 1-year low of $4.62 and a 1-year high of $11.01. The business’s fifty day moving average price is $8.84 and its 200 day moving average price is $8.55.

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

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.79%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, May 19th. Pitney Bowes’s payout ratio is presently -30.77%.

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.