Hsbc Holdings PLC Has $4.75 Million Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Hsbc Holdings PLC lowered its stake in Pitney Bowes Inc. (NYSE:PBI) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 646,489 shares of the technology company’s stock after selling 40,290 shares during the period. Hsbc Holdings PLC’s holdings in Pitney Bowes were worth $4,747,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PBI. Hestia Capital Management LLC acquired a new position in Pitney Bowes in the 4th quarter valued at about $114,326,000. Vanguard Group Inc. grew its stake 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 buying an additional 1,299,716 shares during the last quarter. First Trust Advisors LP acquired a new position in Pitney Bowes in the 4th quarter valued at about $6,245,000. JPMorgan Chase & Co. grew its stake 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 buying an additional 624,878 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 buying an additional 586,249 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insider Transactions at Pitney Bowes

In other news, Director Kurt James Wolf sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the completion of the sale, the director now owns 622,250 shares of the company’s stock, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Arthur Fairweather sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at approximately $1,907,650.35. This trade represents a 42.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,941,529 shares of company stock valued at $19,517,109. Company insiders own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st.

Pitney Bowes Stock Up 0.9 %

Shares of NYSE:PBI opened at $8.55 on Tuesday. The company’s 50 day moving average price is $9.11 and its two-hundred day moving average price is $8.29. Pitney Bowes Inc. has a 12-month low of $4.09 and a 12-month high of $11.01. The firm has a market cap of $1.56 billion, a PE ratio of -7.63, a PEG ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI) last announced its earnings results 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 net margin of 7.71% and a negative return on equity of 20.95%. On average, research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio is -21.43%.

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.