Legal & General Group Plc Has $4.14 Million Stake in Pitney Bowes Inc. $PBI

Legal & General Group Plc decreased its position in Pitney Bowes Inc. (NYSE:PBI) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,753 shares of the technology company’s stock after selling 39,410 shares during the period. Legal & General Group Plc owned approximately 0.24% of Pitney Bowes worth $4,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PBI. EverSource Wealth Advisors LLC lifted its holdings in Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after buying an additional 1,015 shares during the period. Hantz Financial Services Inc. lifted its holdings in Pitney Bowes by 190.9% in the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock valued at $40,000 after buying an additional 2,459 shares during the period. Canada Pension Plan Investment Board acquired a new position in Pitney Bowes in the second quarter valued at $51,000. Copeland Capital Management LLC acquired a new position in Pitney Bowes in the fourth quarter valued at $65,000. Finally, United Services Automobile Association acquired a new position in Pitney Bowes in the first quarter valued at $96,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal bought 4,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $10.22 per share, with a total value of $40,880.00. Following the completion of the transaction, the director directly owned 9,000 shares in the company, valued at approximately $91,980. The trade was a 80.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kurt James Wolf sold 40,476 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $15.62, for a total transaction of $632,235.12. Following the sale, the chief executive officer directly owned 360,210 shares of the company’s stock, valued at approximately $5,626,480.20. The trade was a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,365,280 shares of company stock valued at $34,252,541 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Pitney Bowes Trading Up 0.4%

Shares of NYSE PBI opened at $16.93 on Tuesday. The firm’s 50-day moving average price is $14.32 and its 200-day moving average price is $11.75. The firm has a market capitalization of $2.29 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.76 and a beta of 1.63. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $17.13.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Pitney Bowes’s payout ratio is presently 38.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PBI. The Goldman Sachs Group set a $15.20 price objective on shares of Pitney Bowes in a report on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $9.50 to $16.50 in a report on Monday, May 11th. Truist Financial upped their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Citigroup reiterated an “outperform” rating on shares of Pitney Bowes in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pitney Bowes presently has an average rating of “Moderate Buy” and a consensus price target of $16.43.

Pitney Bowes Company Profile

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.