Rhumbline Advisers Sells 16,277 Shares of Pitney Bowes Inc. $PBI

Rhumbline Advisers reduced its stake in Pitney Bowes Inc. (NYSE:PBI) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,521 shares of the technology company’s stock after selling 16,277 shares during the period. Rhumbline Advisers owned 0.25% of Pitney Bowes worth $4,186,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Trail Ridge Investment Advisors LLC bought a new position in Pitney Bowes in the first quarter worth about $267,000. Bank of America Corp DE increased its stake in shares of Pitney Bowes by 43.0% during the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company’s stock valued at $6,752,000 after purchasing an additional 280,402 shares in the last quarter. American Assets Inc. increased its stake in shares of Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock valued at $941,000 after purchasing an additional 58,000 shares in the last quarter. Man Group plc increased its stake in shares of Pitney Bowes by 76.1% during the fourth quarter. Man Group plc now owns 101,142 shares of the technology company’s stock valued at $732,000 after purchasing an additional 43,694 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Pitney Bowes by 1,030.5% during the first quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company’s stock valued at $278,000 after purchasing an additional 27,999 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Trading Down 0.2%

Shares of PBI stock opened at $11.41 on Monday. Pitney Bowes Inc. has a 12-month low of $6.61 and a 12-month high of $13.11. The firm’s 50 day moving average is $11.70 and its 200 day moving average is $10.27. The stock has a market capitalization of $1.96 billion, a P/E ratio of -19.01, a P/E/G ratio of 0.59 and a beta of 1.29.

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, hitting the consensus estimate of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company had revenue of $461.91 million for the quarter, compared to analysts’ expectations of $475.92 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, equities analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 11th were issued a $0.08 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, August 11th. Pitney Bowes’s dividend payout ratio is -53.33%.

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

Analysts Set New Price Targets

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

Insider Activity at Pitney Bowes

In related news, Director Brent D. Rosenthal bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the acquisition, the director owned 3,000 shares of the company’s stock, valued at $35,910. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the transaction, the executive vice president owned 115,405 shares in the company, valued at $1,401,016.70. This represents a 23.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.00% of the company’s stock.

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.