Wealth Effects LLC Has $1.18 Million Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Wealth Effects LLC lessened its holdings in Pitney Bowes Inc. (NYSE:PBI) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,544 shares of the technology company’s stock after selling 8,964 shares during the period. Wealth Effects LLC’s holdings in Pitney Bowes were worth $1,177,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PBI. Quarry LP raised its holdings in shares of Pitney Bowes by 889.2% in the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after purchasing an additional 7,478 shares during the last quarter. Point72 DIFC Ltd grew its position in Pitney Bowes by 218.0% in the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Pitney Bowes in the 3rd quarter valued at about $86,000. nVerses Capital LLC lifted its position in shares of Pitney Bowes by 59.6% during the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock worth $107,000 after buying an additional 5,600 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Pitney Bowes by 101.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company’s stock worth $117,000 after buying an additional 8,221 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Up 9.2 %

Shares of PBI opened at $9.26 on Tuesday. The stock has a 50 day moving average of $7.58 and a 200 day moving average of $7.18. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $9.29.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $499.46 million during the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. Research analysts predict that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is -9.17%.

Insiders Place Their Bets

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the sale, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. The trade was a 69.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the transaction, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 14.30% 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.