HighPoint Advisor Group LLC Has $969,000 Position in Pitney Bowes Inc. (PBI)
HighPoint Advisor Group LLC continued to hold its position in Pitney Bowes Inc. (NYSE:PBI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,710 shares of the technology company’s stock at the end of the 2nd quarter. HighPoint Advisor Group LLC’s holdings in Pitney Bowes were worth $969,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new stake in shares of Pitney Bowes during the first quarter worth $216,000. HPM Partners LLC acquired a new stake in shares of Pitney Bowes during the second quarter worth $429,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pitney Bowes by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after purchasing an additional 748 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Pitney Bowes during the second quarter worth $108,000. Finally, IFP Advisors Inc grew its stake in shares of Pitney Bowes by 74.4% during the second quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock worth $170,000 after purchasing an additional 4,793 shares during the period. Institutional investors own 76.18% of the company’s stock.
PBI has been the subject of a number of analyst reports. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Loop Capital initiated coverage on Pitney Bowes in a research note on Friday, July 28th. They set a “hold” rating and a $16.00 price objective for the company. Finally, Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Pitney Bowes currently has a consensus rating of “Hold” and a consensus target price of $17.67.
Shares of Pitney Bowes Inc. (NYSE PBI) traded down 0.681% during midday trading on Thursday, hitting $13.845. The company had a trading volume of 818,296 shares. The stock’s 50-day moving average price is $13.21 and its 200-day moving average price is $14.11. Pitney Bowes Inc. has a one year low of $12.31 and a one year high of $18.20. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 27.200 and a beta of 1.21.
Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The company had revenue of $821.40 million for the quarter, compared to the consensus estimate of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. Analysts predict that Pitney Bowes Inc. will post $1.68 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 5.38%. The ex-dividend date was Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio is currently 144.23%.
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.
Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes Inc. (NYSE:PBI).
Receive News & Ratings for Pitney Bowes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.