Fifth Third Bancorp Has $1.06 Million Stake in Pitney Bowes Inc. $PBI

Fifth Third Bancorp grew its position in Pitney Bowes Inc. (NYSE:PBI) by 10,220.1% during the first quarter, HoldingsChannel reports. The firm owned 95,874 shares of the technology company’s stock after buying an additional 94,945 shares during the period. Fifth Third Bancorp’s holdings in Pitney Bowes were worth $1,059,000 at the end of the most recent quarter.

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

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 18,750 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the completion of the sale, the executive vice president owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kurt James Wolf sold 316,280 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $17.10, for a total value of $5,408,388.00. Following the completion of the sale, the chief executive officer directly owned 217,930 shares of the company’s stock, valued at $3,726,603. This trade represents a 59.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,349,130 shares of company stock valued at $53,285,535 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Pitney Bowes Trading Up 0.0%

NYSE:PBI opened at $17.86 on Friday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.80 and a beta of 1.62. The firm has a fifty day simple moving average of $17.09 and a two-hundred day simple moving average of $13.50. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $18.77.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts predict that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

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

Analysts Set New Price Targets

PBI has been the topic of a number of recent analyst reports. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $9.50 to $16.50 in a research note on Monday, May 11th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a research note on Friday, May 8th. Citigroup reiterated a “market outperform” rating on shares of Pitney Bowes in a report on Tuesday, June 16th. Zacks Research lowered Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. 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. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.43.

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.