Shell Asset Management Co. cut its position in Pitney Bowes Inc. (NYSE:PBI) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 79,921 shares of the company’s stock after selling 4,557 shares during the period. Shell Asset Management Co.’s holdings in Pitney Bowes were worth $1,423,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of PBI. BlackRock Fund Advisors increased its stake in shares of Pitney Bowes by 2.5% in the first quarter. BlackRock Fund Advisors now owns 5,803,129 shares of the company’s stock worth $124,999,000 after buying an additional 143,149 shares during the last quarter. Norges Bank acquired a new stake in shares of Pitney Bowes during the fourth quarter worth $40,257,000. JPMorgan Chase & Co. increased its stake in shares of Pitney Bowes by 5.2% in the first quarter. JPMorgan Chase & Co. now owns 1,906,250 shares of the company’s stock worth $41,060,000 after buying an additional 94,575 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Pitney Bowes by 4.0% in the first quarter. BlackRock Group LTD now owns 892,998 shares of the company’s stock worth $19,236,000 after buying an additional 34,667 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Pitney Bowes by 4.4% in the first quarter. Prudential Financial Inc. now owns 688,677 shares of the company’s stock worth $14,834,000 after buying an additional 29,151 shares during the last quarter. Institutional investors and hedge funds own 82.13% of the company’s stock.
Pitney Bowes Inc. (NYSE:PBI) traded up 1.00% during midday trading on Friday, hitting $18.16. The stock had a trading volume of 1,186,757 shares. The firm’s 50-day moving average price is $18.24 and its 200 day moving average price is $19.00. The company has a market cap of $3.37 billion, a P/E ratio of 12.33 and a beta of 1.32. Pitney Bowes Inc. has a 12 month low of $16.24 and a 12 month high of $21.81.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Pitney Bowes had a return on equity of 254.58% and a net margin of 8.63%. The firm earned $836 million during the quarter, compared to analysts’ expectations of $852.46 million. During the same period in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts expect that Pitney Bowes Inc. will post $1.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 4.13%. The ex-dividend date was Thursday, August 18th. Pitney Bowes’s dividend payout ratio is presently 51.37%.
Separately, Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Friday, July 1st.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes Inc. (NYSE:PBI).
Receive News & Ratings for Pitney Bowes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.