Los Angeles Capital Management LLC Takes Position in Pitney Bowes Inc. (NYSE:PBI)

Los Angeles Capital Management LLC bought a new position in Pitney Bowes Inc. (NYSE:PBI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 195,598 shares of the technology company’s stock, valued at approximately $1,395,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Pitney Bowes by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after acquiring an additional 21,811 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Pitney Bowes by 2,894.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock worth $8,760,000 after purchasing an additional 1,187,531 shares in the last quarter. Marshall Wace LLP lifted its holdings in Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after purchasing an additional 503,378 shares during the last quarter. Renaissance Technologies LLC boosted its position in Pitney Bowes by 3.8% in the second quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock valued at $2,639,000 after buying an additional 19,000 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Pitney Bowes by 2.1% during the second quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after buying an additional 10,646 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $7.27 on Friday. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The firm has a market cap of $1.32 billion, a P/E ratio of -3.33, a P/E/G ratio of 1.34 and a beta of 1.97. The business’s fifty day moving average is $7.08 and its two-hundred day moving average is $6.32.

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

Pitney Bowes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.75%. The ex-dividend date is Monday, November 18th. Pitney Bowes’s dividend payout ratio is -9.17%.

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.