Fifth Third Bancorp Has $1.06 Million Holdings in Pitney Bowes Inc. $PBI

Fifth Third Bancorp raised its holdings in Pitney Bowes Inc. (NYSE:PBI) by 10,220.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,874 shares of the technology company’s stock after acquiring an additional 94,945 shares during the period. Fifth Third Bancorp owned about 0.07% of Pitney Bowes worth $1,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,015 shares in the last quarter. Advisory Services Network LLC increased its position in Pitney Bowes by 2.4% during the 3rd quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company’s stock worth $604,000 after purchasing an additional 1,234 shares in the last quarter. Baird Financial Group Inc. increased its position in Pitney Bowes by 12.5% during the 2nd quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock worth $144,000 after purchasing an additional 1,459 shares in the last quarter. HB Wealth Management LLC lifted its stake in Pitney Bowes by 3.0% in the 1st quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company’s stock valued at $690,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Creative Planning lifted its stake in Pitney Bowes by 13.5% in the 3rd quarter. Creative Planning now owns 18,402 shares of the technology company’s stock valued at $210,000 after purchasing an additional 2,188 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 966,561 shares of Pitney Bowes stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer directly owned 452,628 shares of the company’s stock, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 3,349,130 shares of company stock worth $53,285,535. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday, June 16th. The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a report on Friday, May 8th. Zacks Research lowered Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Citizens Jmp boosted their price objective on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Friday, June 5th. Finally, Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.43.

Pitney Bowes Price Performance

NYSE:PBI opened at $17.86 on Friday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.77. The company has a market cap of $2.42 billion, a PE ratio of 17.34, a P/E/G ratio of 0.80 and a beta of 1.62. The firm’s 50 day simple moving average is $17.09 and its 200 day simple moving average is $13.50.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. Equities research analysts expect that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is currently 38.83%.

Pitney Bowes Company Profile

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.