Pitney Bowes (NYSE:PBI) Hits New 12-Month High – What’s Next?

Pitney Bowes Inc. (NYSE:PBI) shares hit a new 52-week high on Monday . The company traded as high as $8.95 and last traded at $8.99, with a volume of 579534 shares changing hands. The stock had previously closed at $8.48.

Pitney Bowes Stock Performance

The stock has a 50-day simple moving average of $7.64 and a 200 day simple moving average of $7.21.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The firm had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. Equities analysts forecast that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.25%. Pitney Bowes’s payout ratio is -9.17%.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans purchased 29,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares of the company’s stock, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently modified their holdings of the business. Hestia Capital Management LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter valued at approximately $114,326,000. Assenagon Asset Management S.A. grew its holdings in shares of Pitney Bowes by 2,894.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after purchasing an additional 1,187,531 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Pitney Bowes by 182.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after buying an additional 624,878 shares during the period. Marshall Wace LLP raised its stake in shares of Pitney Bowes by 248.1% in the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after acquiring an additional 503,378 shares in the last quarter. Finally, PEAK6 Investments LLC purchased a new position in Pitney Bowes in the third quarter valued at $3,470,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.