Advisors Asset Management Inc. increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 26,223 shares of the company’s stock after buying an additional 949 shares during the period. Advisors Asset Management Inc.’s holdings in Pitney Bowes were worth $467,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in PBI. IFP Advisors Inc raised its position in 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 acquired a new position in Pitney Bowes during the second quarter valued at $111,000. Assetmark Inc. raised its position in 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 acquired a new position in Pitney Bowes during the first quarter valued at $190,000. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in Pitney Bowes during the second quarter valued at $185,000. 82.13% of the stock is owned by institutional investors.
Pitney Bowes Inc. (NYSE:PBI) traded up 0.51% during trading on Wednesday, hitting $17.76. 281,228 shares of the company traded hands. The firm has a market cap of $3.30 billion, a P/E ratio of 12.06 and a beta of 1.32. Pitney Bowes Inc. has a one year low of $16.24 and a one year high of $21.81. The firm has a 50 day moving average of $18.28 and a 200 day moving average of $19.03.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The business earned $836 million during the quarter, compared to the consensus estimate of $852.46 million. Pitney Bowes had a net margin of 8.63% and a return on equity of 254.58%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, analysts expect that Pitney Bowes Inc. will post $1.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were given a $0.1875 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.75 annualized dividend and a dividend yield of 4.24%. Pitney Bowes’s dividend payout ratio (DPR) is presently 51.37%.
Separately, Zacks Investment Research upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Friday, July 1st.
About Pitney Bowes
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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