Los Angeles Capital Management LLC Raises Holdings in Pitney Bowes Inc. (NYSE:PBI)

Los Angeles Capital Management LLC boosted its stake in Pitney Bowes Inc. (NYSE:PBI) by 9.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,181 shares of the technology company’s stock after buying an additional 18,583 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pitney Bowes were worth $1,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 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 worth $59,000 after acquiring an additional 7,478 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Pitney Bowes during the 3rd quarter worth about $86,000. Point72 Asia Singapore Pte. Ltd. raised its stake in 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 valued at $117,000 after purchasing an additional 8,221 shares during the last quarter. James J. Burns & Company LLC purchased a new position in Pitney Bowes in the 3rd quarter valued at about $121,000. Finally, First Citizens Bank & Trust Co. lifted its holdings in Pitney Bowes by 10.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock valued at $150,000 after purchasing an additional 2,020 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the sale, the executive vice president now directly owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at $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 ninety days, insiders have sold 1,493,285 shares of company stock valued at $14,633,118. Insiders own 14.30% of the company’s stock.

Pitney Bowes Stock Performance

Shares of PBI opened at $10.82 on Friday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -9.66, a PEG ratio of 0.59 and a beta of 2.01. The company’s 50 day simple moving average is $8.47 and its 200 day simple moving average is $7.70. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating 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 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 2.22%. 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.