Pitney Bowes Inc. $PBI Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in Pitney Bowes Inc. (NYSE:PBI) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,856 shares of the technology company’s stock after buying an additional 6,265 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Pitney Bowes worth $1,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PBI. GAMMA Investing LLC lifted its stake in Pitney Bowes by 1,030.5% during the first quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company’s stock worth $278,000 after purchasing an additional 27,999 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Pitney Bowes by 32.9% during the first quarter. First Citizens Bank & Trust Co. now owns 27,489 shares of the technology company’s stock worth $249,000 after purchasing an additional 6,812 shares during the period. Range Financial Group LLC bought a new position in shares of Pitney Bowes in the 1st quarter worth about $963,000. SG Americas Securities LLC lifted its position in shares of Pitney Bowes by 76.5% in the 1st quarter. SG Americas Securities LLC now owns 32,380 shares of the technology company’s stock worth $293,000 after buying an additional 14,032 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pitney Bowes in the 1st quarter valued at about $124,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Price Performance

PBI opened at $11.11 on Monday. The company has a market capitalization of $1.91 billion, a PE ratio of -18.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $13.11. The business has a 50-day moving average of $11.62 and a 200-day moving average of $10.47.

Pitney Bowes (NYSE:PBI) last posted 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 business had revenue of $461.91 million for the quarter, compared to analyst estimates 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 revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, equities research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

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

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were given a dividend of $0.08 per share. The ex-dividend date was Monday, August 11th. 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 dividend yield of 2.9%. Pitney Bowes’s dividend payout ratio is presently -53.33%.

Insider Activity

In other news, Director Brent D. Rosenthal acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average cost 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 in the company, valued at $35,910. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm’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 completion of the transaction, the executive vice president owned 115,405 shares of the company’s stock, valued at $1,401,016.70. The trade was a 23.27% decrease in their position. The disclosure for this sale can be found here. 9.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Pitney Bowes in a research report on Saturday, September 27th. Wall Street Zen cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Pitney Bowes Company 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.