PEAK6 Investments LLC Invests $3.47 Million in Pitney Bowes Inc. (NYSE:PBI)

PEAK6 Investments LLC bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 486,624 shares of the technology company’s stock, valued at approximately $3,470,000.

Several other hedge funds have also modified their holdings of PBI. Cutter & CO Brokerage Inc. boosted its position in Pitney Bowes by 6.7% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock valued at $162,000 after buying an additional 2,000 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Pitney Bowes by 15.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after purchasing an additional 2,054 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Pitney Bowes by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock valued at $398,000 after buying an additional 2,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pitney Bowes by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock worth $347,000 after buying an additional 4,728 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Pitney Bowes by 6.8% in the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after buying an additional 5,073 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Performance

Shares of PBI stock opened at $8.06 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.70, a PEG ratio of 1.43 and a beta of 1.97. Pitney Bowes Inc. has a one year low of $3.68 and a one year high of $8.80. The company’s 50-day simple moving average is $7.33 and its 200-day simple moving average is $6.56.

Pitney Bowes (NYSE:PBI) last issued its 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. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. The company had revenue of $499.46 million during the quarter, compared to analyst estimates of $467.80 million. As a group, research analysts forecast that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Monday, November 18th. Pitney Bowes’s dividend payout ratio is presently -9.17%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 14.30% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.