Diametric Capital LP Purchases 13,472 Shares of Pitney Bowes Inc. (NYSE:PBI)

Diametric Capital LP increased its position in Pitney Bowes Inc. (NYSE:PBI) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,540 shares of the technology company’s stock after acquiring an additional 13,472 shares during the quarter. Pitney Bowes comprises about 1.4% of Diametric Capital LP’s investment portfolio, making the stock its 8th biggest position. Diametric Capital LP’s holdings in Pitney Bowes were worth $2,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PBI. Hestia Capital Management LLC bought a new position in shares of Pitney Bowes in the fourth quarter worth about $114,326,000. Principal Financial Group Inc. increased its position in Pitney Bowes by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock worth $5,563,000 after buying an additional 30,658 shares during the period. Assenagon Asset Management S.A. increased its position 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 worth $13,139,000 after buying an additional 586,249 shares during the period. American Assets Inc. lifted its holdings in shares of Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock worth $941,000 after buying an additional 58,000 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Pitney Bowes by 3,308.0% in the third quarter. FMR LLC now owns 320,152 shares of the technology company’s stock valued at $2,283,000 after acquiring an additional 310,758 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

NYSE:PBI opened at $9.07 on Tuesday. The firm’s 50-day moving average is $9.49 and its 200-day moving average is $8.10. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -8.10, a PEG ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a 52-week low of $3.90 and a 52-week 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 (EPS) 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 predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. Pitney Bowes’s dividend payout ratio is presently -21.43%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock in a transaction dated 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 sale, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. This trade represents a 66.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock valued at $19,815,631 over the last ninety days. 14.30% of the stock is owned by company insiders.

Pitney Bowes 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.