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

Shares of 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 Price Performance

The firm has a market cap of $1.63 billion, a PE ratio of -4.09, a PEG ratio of 0.45 and a beta of 2.00. The business 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 quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share 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 analysts’ expectations 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 Dividend Announcement

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

Insider Activity at Pitney Bowes

In other Pitney Bowes news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $151,551.68. This trade represents a 69.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the purchase, the director now owns 29,000 shares in the company, valued at $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Pitney Bowes

Several hedge funds and other institutional investors have recently modified their holdings of PBI. Point72 DIFC Ltd lifted its stake in shares of Pitney Bowes by 218.0% in the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after purchasing an additional 7,819 shares in the last quarter. Quarry LP raised its holdings in shares of Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after buying an additional 7,478 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Pitney Bowes during the 3rd quarter valued at about $86,000. AQR Capital Management LLC purchased a new stake in shares of Pitney Bowes during the 2nd quarter valued at about $97,000. Finally, nVerses Capital LLC raised its holdings in shares of Pitney Bowes by 59.6% during the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock valued at $107,000 after buying an additional 5,600 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

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.