Wolverine Asset Management LLC Invests $498,000 in Pitney Bowes Inc. (NYSE:PBI)

Wolverine Asset Management LLC bought a new position in Pitney Bowes Inc. (NYSE:PBI) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 68,814 shares of the technology company’s stock, valued at approximately $498,000.

Other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its stake in Pitney Bowes by 889.2% in the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after purchasing an additional 7,478 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Pitney Bowes in the 3rd quarter worth approximately $86,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Pitney Bowes by 101.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company’s stock worth $117,000 after purchasing an additional 8,221 shares in the last quarter. James J. Burns & Company LLC acquired a new stake in Pitney Bowes in the 3rd quarter worth approximately $121,000. Finally, Fiducient Advisors LLC acquired a new stake in Pitney Bowes in the 3rd quarter worth approximately $143,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Down 3.3 %

PBI stock opened at $10.34 on Monday. The firm has a 50 day moving average of $8.22 and a 200 day moving average of $7.59. The stock has a market capitalization of $1.88 billion, a PE ratio of -9.23, a price-to-earnings-growth ratio of 0.59 and a beta of 2.01. Pitney Bowes Inc. has a 52 week low of $3.73 and a 52 week high of $10.95.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 EPS 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%. On average, equities research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.32%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, February 21st. Pitney Bowes’s payout ratio is presently -21.43%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the sale, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. The trade was a 69.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the transaction, the executive vice president now directly owns 124,124 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 1,405,593 shares of company stock worth $13,568,759. Company insiders own 14.30% of the company’s stock.

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.