Pitney Bowes (NYSE:PBI) Reaches New 1-Year High – Here’s What Happened

Pitney Bowes Inc. (NYSE:PBI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.84 and last traded at $10.83, with a volume of 563889 shares changing hands. The stock had previously closed at $10.65.

Pitney Bowes Stock Up 0.8 %

The stock has a market capitalization of $1.95 billion, a P/E ratio of -9.58, a P/E/G ratio of 0.58 and a beta of 2.01. The business has a fifty day moving average price of $8.00 and a 200-day moving average price of $7.45.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a $0.06 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.24%. Pitney Bowes’s dividend payout ratio is currently -17.86%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Kurt James Wolf sold 78,285 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the sale, the director now owns 606,289 shares in the company, valued at $6,463,040.74. This represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the company’s 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 completion of the sale, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,405,593 shares of company stock valued at $13,568,759. 14.30% of the stock is owned by company insiders.

Institutional Trading of Pitney Bowes

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PharVision Advisers LLC purchased a new stake in Pitney Bowes in the fourth quarter worth about $107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pitney Bowes by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,051 shares of the technology company’s stock worth $2,882,000 after purchasing an additional 27,629 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Pitney Bowes by 1.2% during the fourth quarter. Two Sigma Investments LP now owns 807,414 shares of the technology company’s stock worth $5,846,000 after purchasing an additional 9,471 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Pitney Bowes by 46.1% during the fourth quarter. ProShare Advisors LLC now owns 48,813 shares of the technology company’s stock worth $353,000 after purchasing an additional 15,399 shares in the last quarter. Finally, Man Group plc grew its position in shares of Pitney Bowes by 76.1% during the fourth quarter. Man Group plc now owns 101,142 shares of the technology company’s stock worth $732,000 after purchasing an additional 43,694 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.