Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Pitney Bowes Inc. (NYSE:PBI) by 7.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 519,740 shares of the technology company’s stock after purchasing an additional 37,009 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pitney Bowes were worth $3,763,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its position in Pitney Bowes by 94.8% during the third quarter. GSA Capital Partners LLP now owns 89,352 shares of the technology company’s stock valued at $637,000 after buying an additional 43,489 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Pitney Bowes by 39.2% during the 3rd quarter. Intech Investment Management LLC now owns 88,639 shares of the technology company’s stock valued at $632,000 after acquiring an additional 24,952 shares in the last quarter. Algert Global LLC boosted its position in Pitney Bowes by 76.9% during the 3rd quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock worth $2,459,000 after purchasing an additional 149,944 shares during the period. Pekin Hardy Strauss Inc. purchased a new stake in Pitney Bowes during the 3rd quarter worth $636,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Pitney Bowes in the 3rd quarter valued at $197,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Down 0.9 %

NYSE PBI opened at $9.34 on Tuesday. The stock has a market cap of $1.71 billion, a PE ratio of -8.33, a P/E/G ratio of 0.59 and a beta of 2.02. The business has a 50 day moving average price of $9.05 and a two-hundred day moving average price of $7.91. Pitney Bowes Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $11.01.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. Sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. Pitney Bowes’s payout ratio is presently -21.43%.

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction 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 in the company, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kurt James Wolf sold 481,199 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the transaction, the director now directly owns 584,636 shares of the company’s stock, valued at approximately $6,296,529.72. This represents a 45.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,974,484 shares of company stock worth $19,815,631. 14.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Pitney Bowes 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.