Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,342 shares of the technology company’s stock after selling 1,363 shares during the quarter. Amalgamated Bank’s holdings in Pitney Bowes were worth $410,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Pitney Bowes during the fourth quarter worth approximately $31,000. KBC Group NV acquired a new stake in Pitney Bowes during the first quarter worth approximately $65,000. Xponance Inc. boosted its position in 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 acquiring an additional 3,837 shares during the last quarter. PharVision Advisers LLC acquired a new stake in Pitney Bowes during the fourth quarter worth approximately $107,000. Finally, Cibc World Markets Corp acquired a new stake in Pitney Bowes during the fourth quarter worth approximately $110,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Up 1.5%

Shares of PBI opened at $11.09 on Friday. The firm has a market cap of $2.03 billion, a PE ratio of -12.18, a price-to-earnings-growth ratio of 0.58 and a beta of 1.60. The company’s fifty day moving average is $10.20 and its two-hundred day moving average is $9.22. Pitney Bowes Inc. has a fifty-two week low of $5.58 and a fifty-two week high of $11.65.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results 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. The company had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. Pitney Bowes’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. As a group, equities research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were issued a dividend of $0.07 per share. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, May 19th. This represents a $0.28 annualized dividend and a dividend yield of 2.53%. Pitney Bowes’s payout ratio is presently -30.77%.

Wall Street Analyst Weigh In

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

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.