Pitney Bowes Inc. $PBI Stock Position Lowered by Cibc World Market Inc.

Cibc World Market Inc. lessened its position in Pitney Bowes Inc. (NYSE:PBI) by 6.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 781,742 shares of the technology company’s stock after selling 54,329 shares during the quarter. Cibc World Market Inc. owned approximately 0.49% of Pitney Bowes worth $8,263,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PBI. LSV Asset Management lifted its position in shares of Pitney Bowes by 246.7% in the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after acquiring an additional 2,986,689 shares in the last quarter. Cannell & Spears LLC lifted its position in shares of Pitney Bowes by 89.5% in the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after acquiring an additional 1,588,579 shares in the last quarter. Invesco Ltd. lifted its position in shares of Pitney Bowes by 29.5% in the 3rd quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company’s stock valued at $29,917,000 after acquiring an additional 597,938 shares in the last quarter. Capital Management Corp VA lifted its position in shares of Pitney Bowes by 25.3% in the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock valued at $30,974,000 after acquiring an additional 592,568 shares in the last quarter. Finally, Solidarity Wealth LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter valued at approximately $6,236,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 4,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director directly owned 9,000 shares in the company, valued at $91,980. This trade represents a 80.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kurt James Wolf sold 966,561 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer owned 452,628 shares in the company, valued at approximately $6,599,316.24. This trade represents a 68.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,365,280 shares of company stock worth $34,252,541 in the last 90 days. 6.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on PBI shares. The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a research report on Friday, May 8th. Citizens Jmp upped their price target on shares of Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a research report on Friday. Truist Financial increased their target price on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Citigroup reiterated an “outperform” rating on shares of Pitney Bowes in a research report on Friday. Finally, Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.43.

Pitney Bowes Stock Up 0.7%

PBI stock opened at $16.85 on Friday. Pitney Bowes Inc. has a 12-month low of $8.95 and a 12-month high of $17.13. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.76 and a beta of 1.63. The company has a 50 day moving average of $14.20 and a two-hundred day moving average of $11.68.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, May 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Pitney Bowes’s dividend payout ratio is 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.