Phoenix Financial Ltd. Purchases 64,000 Shares of Pitney Bowes Inc. $PBI

Phoenix Financial Ltd. boosted its position in Pitney Bowes Inc. (NYSE:PBI) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 370,000 shares of the technology company’s stock after acquiring an additional 64,000 shares during the quarter. Phoenix Financial Ltd.’s holdings in Pitney Bowes were worth $3,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Pitney Bowes in the fourth quarter valued at $2,100,000. Maxi Investments CY Ltd bought a new position in Pitney Bowes in the fourth quarter valued at $3,340,000. Indivisible Partners bought a new position in Pitney Bowes in the fourth quarter valued at $595,000. Capital Management Corp VA increased its stake in Pitney Bowes by 25.3% in the fourth quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock valued at $30,974,000 after acquiring an additional 592,568 shares during the last quarter. Finally, Solidarity Wealth LLC bought a new position in Pitney Bowes in the fourth quarter valued at $6,236,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock opened at $15.73 on Friday. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $16.52. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 0.71 and a beta of 1.64. The company’s 50 day moving average price is $12.52 and its 200-day moving average price is $11.04.

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

Pitney Bowes Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be issued a $0.01 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Pitney Bowes’s dividend payout ratio (DPR) is currently 34.95%.

Analyst Ratings Changes

A number of research firms recently commented on PBI. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Truist Financial increased their target price on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a research note on Friday, May 8th. Citigroup reaffirmed an “outperform” rating on shares of Pitney Bowes in a research note on Friday, April 17th. Finally, Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.18.

Insider Activity

In other Pitney Bowes news, Director Brent D. Rosenthal bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $10.22 per share, with a total value of $40,880.00. Following the completion of the purchase, the director directly owned 9,000 shares of the company’s stock, valued at $91,980. This trade represents a 80.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kurt James Wolf sold 389,161 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $15.69, for a total value of $6,105,936.09. Following the completion of the sale, the chief executive officer directly owned 363,853 shares in the company, valued at $5,708,853.57. The trade was a 51.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,456,054 shares of company stock worth $34,864,180 over the last three months. 6.50% of the stock is owned by insiders.

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.