Prudential Financial Inc. boosted its stake in Pitney Bowes Inc. (NYSE:PBI) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 717,457 shares of the company’s stock after buying an additional 28,780 shares during the period. Prudential Financial Inc. owned approximately 0.39% of Pitney Bowes worth $12,771,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of PBI. IFP Advisors Inc boosted its stake in shares of Pitney Bowes by 34.1% in the first quarter. IFP Advisors Inc now owns 5,344 shares of the company’s stock valued at $115,000 after buying an additional 1,358 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Pitney Bowes during the second quarter valued at $111,000. Assetmark Inc. boosted its stake in shares of Pitney Bowes by 55,857.1% in the second quarter. Assetmark Inc. now owns 7,834 shares of the company’s stock valued at $139,000 after buying an additional 7,820 shares during the last quarter. Euclid Advisors LLC purchased a new stake in shares of Pitney Bowes during the first quarter valued at $190,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Pitney Bowes during the second quarter valued at $185,000. 82.13% of the stock is currently owned by institutional investors.
Pitney Bowes Inc. (NYSE:PBI) traded down 0.39% during midday trading on Monday, hitting $18.09. The stock had a trading volume of 163,484 shares. Pitney Bowes Inc. has a 52-week low of $16.24 and a 52-week high of $21.81. The stock has a market cap of $3.36 billion, a PE ratio of 12.28 and a beta of 1.36. The company’s 50 day moving average price is $18.24 and its 200-day moving average price is $19.00.
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, meeting the consensus estimate of $0.39. The business earned $836 million during the quarter, compared to analyst estimates of $852.46 million. Pitney Bowes had a return on equity of 254.58% and a net margin of 8.63%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. Analysts forecast that Pitney Bowes Inc. will post $1.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, August 18th. Pitney Bowes’s payout ratio is 51.37%.
Separately, Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Friday, July 1st.
Pitney Bowes Company Profile
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.
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