Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. increased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 161.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 37,468 shares of the technology company’s stock after acquiring an additional 23,161 shares during the quarter. Fox Run Management L.L.C.’s holdings in Pitney Bowes were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PBI. Hestia Capital Management LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter valued at approximately $114,326,000. Geode Capital Management LLC increased its stake in Pitney Bowes by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock worth $25,878,000 after acquiring an additional 51,093 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Pitney Bowes by 47.7% in the fourth 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. JPMorgan Chase & Co. lifted its stake in shares of 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 last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Pitney Bowes by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock valued at $5,563,000 after purchasing an additional 30,658 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated 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 owns 124,124 shares of the company’s stock, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Arthur Fairweather sold 130,000 shares of Pitney Bowes stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the transaction, the executive vice president now owns 176,145 shares of the company’s stock, valued at $1,907,650.35. The trade was a 42.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,974,484 shares of company stock worth $19,815,631. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $9.50 on Friday. The company’s 50 day simple moving average is $9.41 and its 200-day simple moving average is $8.05. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -8.48, a price-to-earnings-growth ratio of 0.59 and a beta of 2.02.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities analysts expect 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 was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, February 21st. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio (DPR) is currently -21.43%.

Pitney Bowes 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.