World Asset Management Inc Decreases Stake in Pitney Bowes Inc. (PBI)

World Asset Management Inc lowered its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 18.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,326 shares of the technology company’s stock after selling 3,508 shares during the period. World Asset Management Inc’s holdings in Pitney Bowes were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $50,988,000. Norges Bank acquired a new stake in Pitney Bowes during the fourth quarter valued at about $26,120,000. Highbridge Capital Management LLC raised its stake in Pitney Bowes by 9,631.1% in the fourth quarter. Highbridge Capital Management LLC now owns 1,319,632 shares of the technology company’s stock valued at $20,045,000 after buying an additional 1,306,071 shares during the period. Breton Hill Capital Ltd. raised its stake in Pitney Bowes by 212.7% in the first quarter. Breton Hill Capital Ltd. now owns 645,642 shares of the technology company’s stock valued at $8,464,000 after buying an additional 1,218,637 shares during the period. Finally, Two Sigma Investments LP raised its stake in Pitney Bowes by 3,446.3% in the fourth quarter. Two Sigma Investments LP now owns 1,058,548 shares of the technology company’s stock valued at $16,079,000 after buying an additional 1,028,699 shares during the period. 79.21% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 15.25 on Friday. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 28.61 and a beta of 1.19. Pitney Bowes Inc. has a 12-month low of $12.31 and a 12-month high of $19.33. The company’s 50-day moving average is $15.20 and its 200-day moving average is $14.48.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, May 2nd. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Pitney Bowes had a return on equity of 2,282.68% and a net margin of 3.28%. The business had revenue of $836.60 million for the quarter, compared to analyst estimates of $817.07 million. During the same quarter last year, the company earned $0.34 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Analysts predict that Pitney Bowes Inc. will post $1.74 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 26th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Wednesday, May 24th. Pitney Bowes’s dividend payout ratio (DPR) is 138.89%.

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PBI has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Sidoti cut shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Pitney Bowes currently has a consensus rating of “Hold” and an average price target of $18.50.

In related news, Director Linda S. Sanford bought 5,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the purchase, the director now owns 18,690 shares of the company’s stock, valued at approximately $282,032.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.01% of the company’s stock.

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 its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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