Hsbc Holdings PLC Increases Stock Position in Pitney Bowes Inc. $PBI

Hsbc Holdings PLC lifted its stake in Pitney Bowes Inc. (NYSE:PBI) by 32.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 750,224 shares of the technology company’s stock after acquiring an additional 185,326 shares during the quarter. Hsbc Holdings PLC owned 0.50% of Pitney Bowes worth $7,904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Pitney Bowes by 133.1% in the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock worth $478,000 after purchasing an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Pitney Bowes by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company’s stock valued at $882,000 after buying an additional 5,149 shares during the last quarter. United Services Automobile Association purchased a new stake in Pitney Bowes during the 1st quarter valued at $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Pitney Bowes by 18.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company’s stock valued at $4,258,000 after buying an additional 72,437 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Pitney Bowes by 15.5% during the 1st quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company’s stock valued at $1,768,000 after buying an additional 26,260 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Price Performance

NYSE:PBI opened at $17.27 on Thursday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.25. The business has a fifty day moving average price of $16.47 and a 200-day moving average price of $12.89. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 0.76 and a beta of 1.62.

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

Pitney Bowes Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PBI. Citizens Jmp lifted their price objective on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a report on Friday, June 5th. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a research report on Tuesday, June 16th. Finally, Truist Financial boosted their price target on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.43.

Insider Activity

In related news, CEO Kurt James Wolf sold 966,561 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38. Following the completion of the sale, the chief executive officer directly owned 452,628 shares of the company’s stock, valued at approximately $6,599,316.24. This represents a 68.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 3,352,030 shares of company stock worth $53,321,104. Insiders own 6.50% of the company’s stock.

Pitney Bowes Company 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.