Legal & General Group Plc Sells 39,410 Shares of Pitney Bowes Inc. $PBI

Legal & General Group Plc reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 9.1% in the fourth quarter, Holdings Channel reports. The fund owned 391,753 shares of the technology company’s stock after selling 39,410 shares during the quarter. Legal & General Group Plc’s holdings in Pitney Bowes were worth $4,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its stake in shares of Pitney Bowes by 190.9% during the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock valued at $40,000 after buying an additional 2,459 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Pitney Bowes during the 4th quarter valued at approximately $133,000. Mizuho Markets Americas LLC lifted its stake in shares of Pitney Bowes by 1.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 682,808 shares of the technology company’s stock valued at $7,217,000 after buying an additional 9,420 shares in the last quarter. LSV Asset Management lifted its stake in shares of Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after buying an additional 2,986,689 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in shares of Pitney Bowes during the 4th quarter valued at approximately $157,000. 67.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Kurt James Wolf sold 40,476 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $15.62, for a total value of $632,235.12. Following the completion of the sale, the chief executive officer directly owned 360,210 shares of the company’s stock, valued at approximately $5,626,480.20. This trade represents a 10.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah Pfeiffer sold 18,750 shares of Pitney Bowes stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.06, for a total transaction of $301,125.00. Following the transaction, the executive vice president directly owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,365,280 shares of company stock valued at $34,252,541 in the last quarter. Insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PBI shares. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Truist Financial increased their target price on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp increased their target price on shares of Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.43.

Pitney Bowes Stock Performance

PBI stock opened at $16.93 on Tuesday. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $17.13. The firm’s fifty day moving average is $14.32 and its 200 day moving average is $11.75. The firm has a market cap of $2.29 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.76 and a beta of 1.63.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same quarter last year, the firm earned $0.33 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.