Wealth Effects LLC Sells 8,964 Shares of Pitney Bowes Inc. (NYSE:PBI)

Wealth Effects LLC reduced its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,544 shares of the technology company’s stock after selling 8,964 shares during the period. Wealth Effects LLC owned about 0.09% of Pitney Bowes worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. increased its holdings 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 during the period. Westside Investment Management Inc. increased its stake in shares of 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 buying an additional 3,100 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Pitney Bowes by 47.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after acquiring an additional 586,249 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pitney Bowes by 182.4% in the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after acquiring an additional 624,878 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Pitney Bowes by 593.2% in the third quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company’s stock valued at $751,000 after acquiring an additional 91,251 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction, the executive vice president now owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Evans bought 29,000 shares of Pitney Bowes stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average price of $7.80 per share, with a total value of $226,200.00. Following the completion of the purchase, the director now owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.30% of the stock is currently owned by insiders.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $9.26 on Tuesday. Pitney Bowes Inc. has a 52-week low of $3.68 and a 52-week high of $9.29. The firm has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $7.18.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share 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 business had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. Equities analysts expect that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.16%. Pitney Bowes’s dividend payout ratio is currently -9.17%.

Pitney Bowes Company 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.