Vanguard Group Inc. cut its position in Pitney Bowes Inc. (NYSE:PBI) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,557,245 shares of the company’s stock after selling 341,628 shares during the period. Vanguard Group Inc. owned approximately 11.12% of Pitney Bowes worth $365,919,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in PBI. Americafirst Capital Management LLC bought a new position in Pitney Bowes during the second quarter worth about $111,000. IFP Advisors Inc increased 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 worth $115,000 after buying an additional 1,358 shares during the last quarter. Assetmark Inc. increased 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 worth $139,000 after buying an additional 7,820 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Pitney Bowes during the second quarter worth about $185,000. Finally, Euclid Advisors LLC bought a new position in Pitney Bowes during the first quarter worth about $190,000. 82.13% of the stock is owned by institutional investors.
Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 0.309% on Friday, hitting $17.765. 39,149 shares of the stock traded hands. Pitney Bowes Inc. has a one year low of $16.24 and a one year high of $21.81. The company has a market cap of $3.30 billion, a PE ratio of 12.060 and a beta of 1.36. The stock has a 50 day moving average of $18.16 and a 200 day moving average of $18.92.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm earned $836 million during the quarter, compared to analyst estimates of $852.46 million. Pitney Bowes had a net margin of 8.63% and a return on equity of 254.58%. Pitney Bowes’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. Equities analysts anticipate that Pitney Bowes Inc. will post $1.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.75 dividend on an annualized basis and a yield of 4.21%. Pitney Bowes’s payout ratio is 51.37%.
Separately, Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th.
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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