Pitney Bowes (NYSE:PBI) Trading 8.8% Higher Following Dividend Announcement

Pitney Bowes Inc. (NYSE:PBI)’s share price shot up 8.8% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $10.62 and last traded at $10.62. 1,920,584 shares changed hands during trading, a decline of 16% from the average session volume of 2,276,239 shares. The stock had previously closed at $9.76.

The newly announced dividend which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 2.28%. Pitney Bowes’s payout ratio is currently -9.17%.

Pitney Bowes Trading Up 0.3 %

The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.84, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01. The firm’s 50 day moving average price is $7.94 and its two-hundred day moving average price is $7.41.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. As a group, equities research analysts predict that Pitney Bowes Inc. will post 0.4 EPS for the current year.

Insider Transactions at Pitney Bowes

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $8.12, for a total value of $343,540.96. Following the transaction, the executive vice president now owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the purchase, the director now owns 29,000 shares in the company, valued at $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 1,405,593 shares of company stock worth $13,568,759 in the last ninety days. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Pitney Bowes by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock valued at $153,217,000 after purchasing an additional 1,299,716 shares during the period. Hestia Capital Management LLC bought a new stake in Pitney Bowes in the 4th quarter valued at about $114,326,000. Geode Capital Management LLC boosted its holdings in Pitney Bowes by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock valued at $25,878,000 after purchasing an additional 51,093 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Pitney Bowes by 47.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after purchasing an additional 586,249 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Pitney Bowes by 182.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after purchasing an additional 624,878 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.