Jacobs Levy Equity Management Inc. Invests $679,000 in Pitney Bowes Inc. $PBI

Jacobs Levy Equity Management Inc. acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 74,998 shares of the technology company’s stock, valued at approximately $679,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bosun Asset Management LLC acquired a new position in shares of Pitney Bowes during the first quarter worth about $347,000. AQR Capital Management LLC grew its position in shares of Pitney Bowes by 2,074.5% during the first quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company’s stock worth $6,593,000 after buying an additional 694,982 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Pitney Bowes during the first quarter worth about $11,032,000. Cubist Systematic Strategies LLC acquired a new position in shares of Pitney Bowes during the first quarter worth about $2,949,000. Finally, Royal Bank of Canada grew its position in shares of Pitney Bowes by 133.1% during the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock worth $478,000 after buying an additional 30,238 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Stock Down 0.2%

PBI stock opened at $11.41 on Friday. The business has a 50 day moving average price of $11.70 and a 200 day moving average price of $10.28. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -19.01, a PEG ratio of 0.59 and a beta of 1.29. Pitney Bowes Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $13.11.

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

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

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were paid a $0.08 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, August 11th. Pitney Bowes’s dividend payout ratio (DPR) is presently -53.33%.

Insider Buying and Selling

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the sale, the executive vice president owned 115,405 shares in the company, valued at approximately $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brent D. Rosenthal acquired 3,000 shares of Pitney Bowes stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the purchase, the director owned 3,000 shares of the company’s stock, valued at $35,910. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Pitney Bowes has an average rating of “Hold”.

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.