Aperio Group LLC Has $1.59 Million Stake in Pitney Bowes Inc. (NYSE:PBI)
Aperio Group LLC increased its stake in Pitney Bowes Inc. (NYSE:PBI) by 80.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,335 shares of the technology company’s stock after buying an additional 46,929 shares during the period. Aperio Group LLC’s holdings in Pitney Bowes were worth $1,591,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of PBI. Visionary Asset Management Inc. bought a new stake in Pitney Bowes during the second quarter valued at $325,000. Louisiana State Employees Retirement System raised its stake in Pitney Bowes by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 48,700 shares of the technology company’s stock valued at $735,000 after buying an additional 1,600 shares during the period. Nisa Investment Advisors LLC raised its stake in Pitney Bowes by 16.0% in the second quarter. Nisa Investment Advisors LLC now owns 23,900 shares of the technology company’s stock valued at $356,000 after buying an additional 3,300 shares during the period. LS Investment Advisors LLC raised its stake in Pitney Bowes by 14.6% in the second quarter. LS Investment Advisors LLC now owns 20,621 shares of the technology company’s stock valued at $311,000 after buying an additional 2,626 shares during the period. Finally, Creative Planning raised its stake in Pitney Bowes by 30.2% in the second quarter. Creative Planning now owns 30,156 shares of the technology company’s stock valued at $455,000 after buying an additional 6,990 shares during the period. Hedge funds and other institutional investors own 77.12% of the company’s stock.
Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 0.32% on Friday, hitting $12.61. The stock had a trading volume of 471,055 shares. Pitney Bowes Inc. has a 52 week low of $12.31 and a 52 week high of $19.10. The stock’s 50-day moving average price is $14.84 and its 200 day moving average price is $14.29. The company has a market cap of $2.35 billion, a PE ratio of 24.77 and a beta of 1.17.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The firm had revenue of $821.40 million for the quarter, compared to the consensus estimate of $822.90 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, analysts predict that Pitney Bowes Inc. will post $1.68 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.93%. Pitney Bowes’s dividend payout ratio (DPR) is presently 144.23%.
Several research firms recently weighed in on PBI. Cross Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub lowered Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Sidoti upgraded Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, August 2nd. Finally, Loop Capital began coverage on Pitney Bowes in a report on Friday, July 28th. They issued a “hold” rating and a $16.00 target price for the company. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.50.
In related news, Director Linda S. Sanford purchased 5,000 shares of Pitney Bowes stock in a transaction on Wednesday, May 17th. The shares were purchased at an average price of $15.09 per share, for a total transaction of $75,450.00. Following the transaction, the director now owns 18,690 shares of the company’s stock, valued at approximately $282,032.10. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.01% of the company’s stock.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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