Counterpoint Mutual Funds LLC Decreases Stock Position in Pitney Bowes Inc. (NYSE:PBI)

Counterpoint Mutual Funds LLC lessened its stake in Pitney Bowes Inc. (NYSE:PBI) by 42.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,228 shares of the technology company’s stock after selling 78,183 shares during the quarter. Counterpoint Mutual Funds LLC owned about 0.06% of Pitney Bowes worth $755,000 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 the stock. Hestia Capital Management LLC purchased a new position in Pitney Bowes in the 4th quarter worth approximately $114,326,000. Geode Capital Management LLC raised its position in shares of Pitney Bowes by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock valued at $25,878,000 after purchasing an additional 51,093 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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 valued at $13,139,000 after purchasing an additional 586,249 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Pitney Bowes by 182.4% in the 3rd 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. Finally, Principal Financial Group Inc. raised its position in shares of Pitney Bowes by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock valued at $5,563,000 after purchasing an additional 30,658 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. The trade was a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,974,484 shares of company stock worth $19,815,631. 14.30% of the stock is owned by company insiders.

Pitney Bowes Stock Up 3.1 %

PBI opened at $9.41 on Monday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -8.40, a price-to-earnings-growth ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $11.01. The company’s 50-day moving average price is $9.01 and its 200 day moving average price is $7.90.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. Research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.24 annualized dividend and a dividend yield of 2.55%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio (DPR) is presently -21.43%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

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.