Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC increased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 126.6% during the third quarter, Holdings Channel.com reports. The fund owned 135,531 shares of the technology company’s stock after buying an additional 75,724 shares during the period. Verition Fund Management LLC’s holdings in Pitney Bowes were worth $966,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position 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 purchasing an additional 21,811 shares in the last quarter. Assenagon Asset Management S.A. raised its stake 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 buying an additional 1,187,531 shares during the period. Marshall Wace LLP lifted its position in shares of 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 buying an additional 503,378 shares in the last quarter. Renaissance Technologies LLC grew its stake in Pitney Bowes by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock valued at $2,639,000 after acquiring an additional 19,000 shares during the period. Finally, Rhumbline Advisers increased its holdings in Pitney Bowes by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after acquiring an additional 10,646 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Trading Up 0.5 %

NYSE:PBI opened at $7.82 on Monday. The stock has a 50 day moving average of $7.41 and a two-hundred day moving average of $6.66. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $8.80. The firm has a market cap of $1.42 billion, a P/E ratio of -3.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.97.

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

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Monday, November 18th. Pitney Bowes’s dividend payout ratio is currently -9.17%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Paul J. Evans purchased 29,000 shares of Pitney Bowes stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the acquisition, the director now directly owns 29,000 shares in the company, valued at approximately $226,200. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the sale, the executive vice president now directly owns 18,664 shares of the company’s stock, valued at $151,551.68. This represents a 69.39 % decrease in their position. The disclosure for this sale can be found here. 14.30% of the stock is currently 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.