American Assets Inc. Invests $513,000 in Pitney Bowes Inc. (NYSE:PBI)

American Assets Inc. bought a new position in Pitney Bowes Inc. (NYSE:PBI) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 72,000 shares of the technology company’s stock, valued at approximately $513,000. Pitney Bowes comprises about 0.2% of American Assets Inc.’s holdings, making the stock its 14th largest position.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after buying an additional 21,811 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Pitney Bowes by 2,894.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock worth $8,760,000 after buying an additional 1,187,531 shares during the last quarter. Marshall Wace LLP grew its holdings in Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after purchasing an additional 503,378 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Pitney Bowes by 3.8% during the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock valued at $2,639,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Pitney Bowes by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock valued at $2,581,000 after purchasing an additional 10,646 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Pitney Bowes Stock Down 2.5 %

NYSE:PBI traded down $0.20 during mid-day trading on Tuesday, hitting $7.79. 129,877 shares of the stock traded hands, compared to its average volume of 1,751,221. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.67, a PEG ratio of 1.44 and a beta of 1.97. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The firm’s 50 day moving average is $7.03 and its two-hundred day moving average is $6.26.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 13.85%. As a group, research analysts predict that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.57%. Pitney Bowes’s dividend payout ratio (DPR) is -9.17%.

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.