Truist Financial Corp Boosts Stake in Pitney Bowes Inc. $PBI

Truist Financial Corp increased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 599.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,502 shares of the technology company’s stock after acquiring an additional 67,272 shares during the quarter. Truist Financial Corp’s holdings in Pitney Bowes were worth $896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PBI. EverSource Wealth Advisors LLC lifted its stake in Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,015 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Pitney Bowes in the second quarter valued at approximately $51,000. Canada Pension Plan Investment Board purchased a new position in Pitney Bowes during the second quarter worth approximately $51,000. United Services Automobile Association acquired a new position in Pitney Bowes during the first quarter worth $96,000. Finally, PFG Investments LLC acquired a new position in Pitney Bowes during the third quarter worth $127,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $10.79 on Wednesday. The company’s 50 day simple moving average is $10.38 and its 200-day simple moving average is $10.80. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 0.50 and a beta of 1.41. Pitney Bowes Inc. has a 1 year low of $7.39 and a 1 year high of $13.11.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PBI. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. Truist Financial assumed coverage on shares of Pitney Bowes in a research note on Friday, December 12th. They set a “hold” rating and a $11.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price target for the company. Finally, Citigroup assumed coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. One equities research 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

About Pitney Bowes

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.