Peak6 LLC Invests $3.55 Million in Pitney Bowes Inc. (NYSE:PBI)

Peak6 LLC bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 489,884 shares of the technology company’s stock, valued at approximately $3,547,000.

Other institutional investors also recently bought and sold shares of the company. James J. Burns & Company LLC increased its position in shares of Pitney Bowes by 9.7% in the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,637 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Pitney Bowes by 11.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,878 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Pitney Bowes by 10.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after purchasing an additional 2,020 shares during the period. Federated Hermes Inc. boosted its position in Pitney Bowes by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company’s stock valued at $740,000 after buying an additional 2,711 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after buying an additional 2,873 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at $6,010,935. This trade represents a 66.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares in the company, valued at $1,119,598.48. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,974,484 shares of company stock valued at $19,815,631. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Stock Down 1.2 %

PBI stock opened at $8.00 on Friday. Pitney Bowes Inc. has a 52-week low of $3.98 and a 52-week high of $11.01. The company’s 50-day simple moving average is $9.37 and its 200-day simple moving average is $8.22. The firm has a market cap of $1.46 billion, a P/E ratio of -7.14, a PEG ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. On average, analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a $0.06 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 3.00%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio (DPR) is currently -21.43%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Monday, March 31st.

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.