Voleon Capital Management LP Trims Position in Pitney Bowes Inc. $PBI

Voleon Capital Management LP trimmed its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 39.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,969 shares of the technology company’s stock after selling 63,117 shares during the period. Voleon Capital Management LP’s holdings in Pitney Bowes were worth $869,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Trail Ridge Investment Advisors LLC bought a new position in shares of Pitney Bowes in the first quarter worth about $267,000. Bank of America Corp DE raised its stake in Pitney Bowes by 43.0% during the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company’s stock valued at $6,752,000 after purchasing an additional 280,402 shares during the period. American Assets Inc. lifted its holdings in Pitney Bowes by 80.6% in the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock worth $941,000 after purchasing an additional 58,000 shares in the last quarter. Man Group plc boosted its stake in Pitney Bowes by 76.1% in the 4th quarter. Man Group plc now owns 101,142 shares of the technology company’s stock worth $732,000 after purchasing an additional 43,694 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Pitney Bowes by 1,030.5% during the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company’s stock valued at $278,000 after buying an additional 27,999 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

NYSE PBI opened at $11.75 on Wednesday. The stock has a 50 day moving average price of $11.70 and a 200-day moving average price of $10.26. Pitney Bowes Inc. has a one year low of $6.22 and a one year high of $13.11. The company has a market capitalization of $2.02 billion, a P/E ratio of -19.58, a P/E/G ratio of 0.65 and a beta of 1.29.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. Pitney Bowes’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, equities analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.7%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s dividend payout ratio is presently -53.33%.

Pitney Bowes announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 18.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insiders Place Their Bets

In related news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the transaction, the director directly owned 3,000 shares in the company, valued at $35,910. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction of $424,900.00. Following the transaction, the executive vice president owned 115,405 shares in the company, valued at $1,401,016.70. This trade represents a 23.27% decrease in their position. The disclosure for this sale can be found here. 9.00% of the stock is owned by company insiders.

About Pitney Bowes

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.