The Manufacturers Life Insurance Company boosted its position in Pitney Bowes Inc. (NYSE:PBI) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 308,607 shares of the technology company’s stock after acquiring an additional 25,581 shares during the period. The Manufacturers Life Insurance Company owned 0.17% of Pitney Bowes worth $3,451,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $120,000. NEXT Financial Group Inc lifted its holdings in shares of Pitney Bowes by 2,155.1% in the fourth quarter. NEXT Financial Group Inc now owns 11,005 shares of the technology company’s stock valued at $123,000 after purchasing an additional 10,517 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $151,000. ETRADE Capital Management LLC bought a new position in shares of Pitney Bowes in the third quarter valued at approximately $168,000. Finally, ING Groep NV lifted its holdings in shares of Pitney Bowes by 23.2% in the fourth quarter. ING Groep NV now owns 28,176 shares of the technology company’s stock valued at $315,000 after purchasing an additional 5,313 shares in the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.
A number of research firms have recently weighed in on PBI. Zacks Investment Research upgraded Pitney Bowes from a “strong sell” rating to a “hold” rating in a report on Monday, January 8th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.50.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. Pitney Bowes’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. analysts anticipate that Pitney Bowes Inc. will post 1.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.75 dividend on an annualized basis and a yield of 5.92%. Pitney Bowes’s dividend payout ratio (DPR) is currently 63.03%.
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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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