Neuberger Berman Group LLC recently disclosed that they own a 1.4% stake in Pitney Bowes Inc. (NYSE:PBI) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, October 7th. The investor owns 2,527,869 shares of the stock valued at $44,439,937. The reporting parties listed on the disclosure included Neuberger Berman Group LLC and Neuberger Berman Investment Advisers LLC. The disclosure is available through Edgar at this hyperlink.
A number of other large investors have also recently made changes to their positions in PBI. Norges Bank bought a new position in shares of Pitney Bowes during the fourth quarter valued at about $40,257,000. Massachusetts Financial Services Co. MA bought a new position in shares of Pitney Bowes during the second quarter valued at about $22,551,000. Chartwell Investment Partners LLC bought a new position in shares of Pitney Bowes during the second quarter valued at about $20,869,000. LSV Asset Management increased its position 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 valued at $52,746,000 after buying an additional 757,236 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Pitney Bowes by 144.8% in the second quarter. Canada Pension Plan Investment Board now owns 950,510 shares of the company’s stock valued at $16,919,000 after buying an additional 562,210 shares in the last quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.
Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 1.35% on Friday, hitting $17.58. The company had a trading volume of 754,158 shares. The company has a 50-day moving average of $18.16 and a 200 day moving average of $18.91. The stock has a market cap of $3.26 billion, a PE ratio of 11.93 and a beta of 1.36. 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 earnings results on Tuesday, August 2nd. The company reported $0.39 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 firm earned $836 million during the quarter, compared to analysts’ expectations of $852.46 million. During the same quarter in the prior year, the firm earned $0.45 EPS. Pitney Bowes’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts anticipate that Pitney Bowes Inc. will post $1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Thursday, August 18th. Pitney Bowes’s dividend payout ratio (DPR) is 51.37%.
Separately, Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Friday, September 2nd.
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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