Range Financial Group LLC Reduces Holdings in Pitney Bowes Inc. $PBI

Range Financial Group LLC trimmed its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 90.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,188 shares of the technology company’s stock after selling 109,412 shares during the quarter. Range Financial Group LLC’s holdings in Pitney Bowes were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Hennessy Advisors Inc. purchased a new position in shares of Pitney Bowes in the second quarter worth $12,660,000. Permit Capital LLC grew its holdings in Pitney Bowes by 18.8% in 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 during the last quarter. Bank of New York Mellon Corp increased its position in shares of Pitney Bowes by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 1,584,850 shares of the technology company’s stock valued at $17,291,000 after acquiring an additional 65,239 shares during the period. AQR Capital Management LLC raised its stake in shares of Pitney Bowes by 2,074.5% during the first quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company’s stock valued at $6,593,000 after acquiring an additional 694,982 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Pitney Bowes by 54.0% during the second quarter. Squarepoint Ops LLC now owns 566,511 shares of the technology company’s stock valued at $6,181,000 after acquiring an additional 198,743 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Stock Performance

PBI stock opened at $10.66 on Wednesday. Pitney Bowes Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $13.11. The business’s 50 day moving average price is $10.12 and its two-hundred day moving average price is $10.98. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 0.55 and a beta of 1.32.

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

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 10th were given a dividend of $0.09 per share. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, November 10th. Pitney Bowes’s payout ratio is 80.00%.

Analyst Upgrades and Downgrades

PBI has been the topic of several recent analyst reports. Citizens Jmp assumed coverage on Pitney Bowes in a research note on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 target price on the stock. JMP Securities set a $13.00 price objective on Pitney Bowes in a report on Wednesday, December 3rd. The Goldman Sachs Group began coverage on Pitney Bowes in a research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a report on Monday. Finally, Citigroup started coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.