Prudential Financial Inc. Cuts Position in Pitney Bowes Inc. (PBI)

Prudential Financial Inc. reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 47.0% during the first quarter, Holdings Channel reports. The institutional investor owned 333,406 shares of the technology company’s stock after selling 295,935 shares during the period. Prudential Financial Inc.’s holdings in Pitney Bowes were worth $4,371,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Sheaff Brock Investment Advisors LLC increased its stake in shares of Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock valued at $146,000 after buying an additional 500 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Pitney Bowes during the first quarter valued at about $149,000. Fox Run Management L.L.C. acquired a new stake in shares of Pitney Bowes during the first quarter valued at about $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Pitney Bowes by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,649 shares of the technology company’s stock valued at $162,000 after buying an additional 49 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of Pitney Bowes during the fourth quarter valued at about $205,000. 79.01% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

Shares of Pitney Bowes Inc. (NYSE PBI) opened at 15.08 on Friday. The firm has a market capitalization of $2.81 billion, a P/E ratio of 28.29 and a beta of 1.19. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.33. The company’s 50-day moving average price is $15.32 and its 200-day moving average price is $14.49.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. Pitney Bowes had a net margin of 3.28% and a return on equity of 2,282.68%. The business had revenue of $836.60 million for the quarter, compared to analyst estimates of $817.07 million. During the same quarter in the prior year, the business earned $0.34 EPS. Pitney Bowes’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Pitney Bowes Inc. will post $1.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 26th were paid a $0.1875 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $0.75 dividend on an annualized basis and a yield of 4.97%. Pitney Bowes’s dividend payout ratio (DPR) is currently 138.89%.

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PBI has been the topic of several research analyst reports. Zacks Investment Research raised Pitney Bowes from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, May 23rd. BidaskClub downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Sidoti downgraded Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.50.

In related news, Director Linda S. Sanford purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $15.09 per share, for a total transaction of $75,450.00. Following the purchase, the director now owns 18,690 shares in the company, valued at $282,032.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.01% of the stock is currently owned by corporate insiders.

About Pitney Bowes

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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