Mason Street Advisors LLC bought a new stake in Pitney Bowes Inc. (NYSE:PBI) during the second quarter, Holdings Channel reports. The firm bought 25,406 shares of the company’s stock, valued at approximately $452,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Pitney Bowes by 5.2% in the second quarter. BlackRock Fund Advisors now owns 6,105,940 shares of the company’s stock worth $108,686,000 after buying an additional 302,811 shares during the last quarter. LSV Asset Management increased its stake in shares of Pitney Bowes by 34.3% in the second quarter. LSV Asset Management now owns 2,963,263 shares of the company’s stock worth $52,746,000 after buying an additional 757,236 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 0.4% in the second quarter. JPMorgan Chase & Co. now owns 1,913,733 shares of the company’s stock worth $34,066,000 after buying an additional 7,483 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Pitney Bowes by 31.7% in the second quarter. Alps Advisors Inc. now owns 1,435,713 shares of the company’s stock worth $25,556,000 after buying an additional 345,868 shares during the last quarter. 82.13% of the stock is owned by institutional investors and hedge funds.
Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 17.82 on Wednesday. The stock has a 50 day moving average price of $18.21 and a 200 day moving average price of $18.93. The firm has a market capitalization of $3.31 billion, a P/E ratio of 12.10 and a beta of 1.36. Pitney Bowes Inc. has a 52 week low of $16.24 and a 52 week high of $21.81.
Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Pitney Bowes had a net margin of 8.63% and a return on equity of 254.58%. The company earned $836 million during the quarter, compared to analyst estimates of $852.46 million. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts forecast that Pitney Bowes Inc. will post $1.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend 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 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.
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.