Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG grew its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 46.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,405 shares of the technology company’s stock after purchasing an additional 45,234 shares during the period. Deutsche Bank AG owned approximately 0.08% of Pitney Bowes worth $1,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hestia Capital Management LLC acquired a new position in Pitney Bowes during the 4th quarter worth about $114,326,000. Vanguard Group Inc. increased its stake in Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock worth $153,217,000 after purchasing an additional 1,299,716 shares during the period. First Trust Advisors LP acquired a new stake in shares of Pitney Bowes during the fourth quarter worth about $6,245,000. PEAK6 LLC purchased a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $3,547,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Pitney Bowes by 1,356.4% in the fourth quarter. Victory Capital Management Inc. now owns 474,107 shares of the technology company’s stock valued at $3,433,000 after purchasing an additional 441,553 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PBI has been the topic of a number of analyst reports. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 15th. Sidoti upgraded shares of Pitney Bowes to a “hold” rating in a research note on Monday, May 5th.

Pitney Bowes Stock Performance

Shares of NYSE:PBI opened at $10.03 on Monday. The stock 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 one year low of $4.62 and a one year high of $11.01. The company has a 50-day simple moving average of $8.84 and a 200-day simple moving average of $8.56.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $493.42 million for the quarter, compared to analysts’ expectations of $498.99 million. During the same period in the previous year, the company posted ($0.01) EPS. Pitney Bowes’s revenue was down 5.3% compared to the same quarter last year. As a group, research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Monday, May 19th will be issued a $0.07 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, May 19th. Pitney Bowes’s dividend payout ratio (DPR) is currently -30.77%.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the company’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 in the company, valued at approximately $1,907,650.35. This represents a 42.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kurt James Wolf sold 481,199 shares of the 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 completion of the transaction, the director now directly owns 584,636 shares of the company’s stock, valued at approximately $6,296,529.72. This trade represents a 45.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 613,244 shares of company stock worth $6,607,591 over the last three months. 9.00% of the stock is currently owned by corporate insiders.

Pitney Bowes Company 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.