Pitney Bowes (NYSE:PBI) Hits New 12-Month High – Here’s Why

Shares of Pitney Bowes Inc. (NYSE:PBI) reached a new 52-week high on Tuesday . The company traded as high as $11.00 and last traded at $10.61, with a volume of 4088895 shares traded. The stock had previously closed at $10.32.

Pitney Bowes Trading Up 2.8 %

The stock has a market cap of $1.93 billion, a PE ratio of -9.47, a P/E/G ratio of 0.59 and a beta of 2.01. The business has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $7.62.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. On average, research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $0.06 per share. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. Pitney Bowes’s dividend payout ratio (DPR) is -21.43%.

Insiders Place Their Bets

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the sale, the executive vice president now directly owns 124,124 shares of the company’s stock, valued at $1,119,598.48. The trade was a 22.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the sale, the executive vice president now owns 18,664 shares in the company, valued at $151,551.68. The trade was a 69.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,405,593 shares of company stock worth $13,568,759. 14.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pitney Bowes

Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in Pitney Bowes during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its stake in shares of Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after buying an additional 2,873 shares in the last quarter. Quarry LP grew its holdings in shares of Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after buying an additional 7,478 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Pitney Bowes during the third quarter valued at approximately $86,000. Finally, Xponance Inc. raised its holdings in Pitney Bowes by 36.7% in the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after acquiring an additional 3,837 shares during the last quarter. Hedge funds and other institutional investors 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.