Algert Global LLC Decreases Holdings in Pitney Bowes Inc. $PBI

Algert Global LLC reduced its position in Pitney Bowes Inc. (NYSE:PBI) by 54.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,066 shares of the technology company’s stock after selling 333,777 shares during the period. Algert Global LLC’s holdings in Pitney Bowes were worth $2,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV acquired a new stake in Pitney Bowes in the first quarter valued at $65,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pitney Bowes in the 1st quarter worth about $98,000. PharVision Advisers LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at about $107,000. PFG Investments LLC increased its holdings in Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,644 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in Pitney Bowes during the first quarter worth about $122,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a “hold” rating in a report on Monday, May 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Pitney Bowes presently has an average rating of “Hold”.

Insider Activity

In related news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the transaction, the executive vice president owned 115,405 shares in the company, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Trading Down 0.6%

Shares of NYSE:PBI opened at $11.3550 on Thursday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -18.93, a PEG ratio of 0.59 and a beta of 1.54. The stock’s 50-day moving average price is $11.27 and its two-hundred day moving average price is $10.02. Pitney Bowes Inc. has a 12-month low of $6.22 and a 12-month high of $13.11.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be issued a $0.08 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. The ex-dividend date is Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.8%. Pitney Bowes’s dividend payout ratio (DPR) is -53.33%.

Pitney Bowes announced that its Board of Directors has initiated a share buyback program on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to buy up to 18.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.