Pitney Bowes (NYSE:PBI) Sets New 12-Month High – What’s Next?

Pitney Bowes Inc. (NYSE:PBI) hit a new 52-week high on Monday . The company traded as high as $8.95 and last traded at $8.99, with a volume of 579534 shares changing hands. The stock had previously closed at $8.48.

Pitney Bowes Stock Performance

The firm has a market capitalization of $1.63 billion, a P/E ratio of -4.09, a P/E/G ratio of 0.45 and a beta of 2.00. The stock has a fifty day moving average price of $7.58 and a two-hundred day moving average price of $7.18.

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

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $0.05 per share. The ex-dividend date was Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 2.22%. Pitney Bowes’s dividend payout ratio is currently -9.17%.

Insider Activity at Pitney Bowes

In related news, Director Paul J. Evans bought 29,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $7.80 per share, with a total value of $226,200.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $343,540.96. Following the sale, the executive vice president now directly owns 18,664 shares in the company, valued at $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. James J. Burns & Company LLC grew its stake in Pitney Bowes by 9.7% in the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,637 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Pitney Bowes by 10.8% in the fourth 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. Westside Investment Management Inc. grew its stake in Pitney Bowes by 0.5% in the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after purchasing an additional 3,100 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after purchasing an additional 586,249 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Pitney Bowes by 182.4% in the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after purchasing an additional 624,878 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

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.