Allspring Global Investments Holdings LLC Increases Stake in Pitney Bowes Inc. $PBI

Allspring Global Investments Holdings LLC raised its position in Pitney Bowes Inc. (NYSE:PBI) by 76.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 555,747 shares of the technology company’s stock after purchasing an additional 241,465 shares during the period. Allspring Global Investments Holdings LLC owned 0.32% of Pitney Bowes worth $6,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in shares of Pitney Bowes during the second quarter worth $12,660,000. AQR Capital Management LLC lifted its holdings in Pitney Bowes by 2,074.5% during the 1st 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 during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Pitney Bowes during the 2nd quarter worth about $5,889,000. Permit Capital LLC boosted its position in shares of Pitney Bowes by 18.8% during the 2nd quarter. Permit Capital LLC now owns 2,850,000 shares of the technology company’s stock worth $31,094,000 after acquiring an additional 450,000 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Pitney Bowes in the 2nd quarter valued at about $3,611,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $10.11 on Wednesday. The company has a market cap of $1.63 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11. The business has a fifty day moving average of $9.97 and a two-hundred day moving average of $10.98.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $459.68 million for the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a negative return on equity of 38.38% and a net margin of 4.14%.The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 10th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. Pitney Bowes’s dividend payout ratio is currently 80.00%.

Analyst Ratings Changes

PBI has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. Citigroup initiated coverage on shares of Pitney Bowes in a research report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Citizens Jmp initiated coverage on shares of Pitney Bowes in a research note on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 price objective for the company. Truist Financial initiated coverage on Pitney Bowes in a report on Friday, December 12th. They set a “hold” rating and a $11.00 price objective on the stock. Finally, JMP Securities set a $13.00 target price on Pitney Bowes in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Pitney Bowes presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.