Voya Investment Management LLC Trims Stock Position in Pitney Bowes Inc. $PBI

Voya Investment Management LLC trimmed its position in Pitney Bowes Inc. (NYSE:PBI) by 23.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,407 shares of the technology company’s stock after selling 26,954 shares during the period. Voya Investment Management LLC’s holdings in Pitney Bowes were worth $800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PBI. American Assets Inc. raised its position in Pitney Bowes by 80.6% in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pitney Bowes by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,275 shares of the technology company’s stock worth $668,000 after purchasing an additional 3,904 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Pitney Bowes by 1.5% during the fourth quarter. Nuveen Asset Management LLC now owns 656,291 shares of the technology company’s stock worth $4,752,000 after purchasing an additional 9,493 shares in the last quarter. ProShare Advisors LLC boosted its stake in Pitney Bowes by 46.1% in the fourth quarter. ProShare Advisors LLC now owns 48,813 shares of the technology company’s stock valued at $353,000 after acquiring an additional 15,399 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Pitney Bowes by 7.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,051 shares of the technology company’s stock valued at $2,882,000 after acquiring an additional 27,629 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Pitney Bowes 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 acquired at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at $35,910. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction of $424,900.00. Following the completion of the sale, the executive vice president owned 115,405 shares in the company, valued at $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Pitney Bowes Stock Performance

Shares of NYSE PBI opened at $11.99 on Thursday. The firm has a market cap of $2.06 billion, a P/E ratio of -19.98, a price-to-earnings-growth ratio of 0.61 and a beta of 1.29. The firm’s 50 day moving average price is $11.75 and its 200 day moving average price is $10.35. Pitney Bowes Inc. has a 1 year low of $6.66 and a 1 year high of $13.11.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $475.92 million. During the same quarter last year, the business earned $0.03 EPS. Pitney Bowes’s revenue for the quarter 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 EPS for the current year.

Pitney Bowes declared that its Board of Directors has approved a share buyback plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were issued a $0.08 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.7%. Pitney Bowes’s dividend payout ratio (DPR) is presently -53.33%.

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.