Russell Investments Group Ltd. Has $2.04 Million Holdings in Pitney Bowes Inc. $PBI

Russell Investments Group Ltd. increased its stake in Pitney Bowes Inc. (NYSE:PBI) by 1,545.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,170 shares of the technology company’s stock after purchasing an additional 211,484 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Pitney Bowes worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Informed Momentum Co LLC acquired a new position in Pitney Bowes in the 1st quarter worth $3,316,000. Public Sector Pension Investment Board boosted its stake in shares of Pitney Bowes by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 501,354 shares of the technology company’s stock worth $4,537,000 after buying an additional 107,511 shares during the last quarter. Nuveen LLC acquired a new position in shares of Pitney Bowes during the 1st quarter worth about $5,322,000. Barnett & Company Inc. acquired a new position in shares of Pitney Bowes during the 1st quarter worth about $176,000. Finally, Aigen Investment Management LP acquired a new position in shares of Pitney Bowes during the 1st quarter worth about $187,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Stock Performance

Shares of PBI stock opened at $12.40 on Tuesday. The firm’s 50-day moving average is $11.36 and its 200-day moving average is $10.11. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -20.67, a PEG ratio of 0.61 and a beta of 1.54. Pitney Bowes Inc. has a 52-week low of $6.22 and a 52-week high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $461.91 million for the quarter, compared to analysts’ expectations of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. Pitney Bowes’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s payout ratio is currently -53.33%.

Pitney Bowes announced that its Board of Directors has initiated a share buyback plan on Wednesday, July 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 18.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday. Sidoti upgraded shares of Pitney Bowes to a “hold” rating in a research note on Monday, May 5th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Pitney Bowes has a consensus rating of “Hold”.

Insider Activity

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the sale, the executive vice president directly owned 115,405 shares of the company’s stock, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.00% of the company’s stock.

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.