Range Financial Group LLC Sells 109,412 Shares of Pitney Bowes Inc. $PBI

Range Financial Group LLC lessened its holdings in Pitney Bowes Inc. (NYSE:PBI) by 90.0% during the third quarter, Holdings Channel.com reports. The firm owned 12,188 shares of the technology company’s stock after selling 109,412 shares during the quarter. Range Financial Group LLC’s holdings in Pitney Bowes were worth $139,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its position in shares of Pitney Bowes by 9.5% in the 1st quarter. Kestra Advisory Services LLC now owns 91,694 shares of the technology company’s stock worth $830,000 after purchasing an additional 7,960 shares in the last quarter. Ieq Capital LLC purchased a new position in Pitney Bowes during the first quarter valued at $422,000. Trexquant Investment LP purchased a new position in Pitney Bowes during the first quarter valued at $1,685,000. State of Wyoming boosted its holdings in Pitney Bowes by 162.4% in the first quarter. State of Wyoming now owns 28,413 shares of the technology company’s stock worth $257,000 after acquiring an additional 17,583 shares in the last quarter. Finally, Graham Capital Management L.P. grew its stake in shares of Pitney Bowes by 45.1% in the first quarter. Graham Capital Management L.P. now owns 112,411 shares of the technology company’s stock worth $1,017,000 after acquiring an additional 34,921 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBI. Citizens Jmp initiated coverage on Pitney Bowes in a research report on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 price target for the company. The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 price objective for the company. Truist Financial initiated coverage on shares of Pitney Bowes in a research note on Friday, December 12th. They issued a “hold” rating and a $11.00 target price on the stock. Citigroup began coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a report on Monday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Pitney Bowes presently has an average rating of “Hold” and a consensus target price of $12.00.

Pitney Bowes Stock Performance

PBI opened at $10.66 on Wednesday. The company’s 50-day simple moving average is $10.12 and its two-hundred day simple moving average is $10.98. The stock has a market capitalization of $1.71 billion, a P/E ratio of 23.68, a P/E/G ratio of 0.55 and a beta of 1.32. Pitney Bowes Inc. has a 52-week low of $6.88 and a 52-week high of $13.11.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $459.68 million during the quarter, compared to the consensus estimate of $467.45 million. Pitney Bowes had a negative return on equity of 38.38% and a net margin of 4.14%.The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. Research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 10th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. Pitney Bowes’s payout ratio is currently 80.00%.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.