Pitney Bowes Inc. (PBI) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 29.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,375,884 shares of the technology company’s stock after buying an additional 311,003 shares during the period. Advisors Asset Management Inc. owned approximately 0.74% of Pitney Bowes worth $19,276,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Pitney Bowes by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after buying an additional 748 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Pitney Bowes during the 2nd quarter worth approximately $108,000. IFP Advisors Inc boosted its holdings in shares of Pitney Bowes by 74.4% during the 2nd quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock worth $170,000 after buying an additional 4,793 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Pitney Bowes by 23.0% during the 2nd quarter. D.A. Davidson & CO. now owns 12,300 shares of the technology company’s stock worth $185,000 after buying an additional 2,300 shares in the last quarter. Finally, TSP Capital Management Group LLC boosted its holdings in shares of Pitney Bowes by 13.1% during the 2nd quarter. TSP Capital Management Group LLC now owns 12,550 shares of the technology company’s stock worth $190,000 after buying an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

PBI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Monday, September 4th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Loop Capital started coverage on Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 target price on the stock. Finally, Cross Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Pitney Bowes presently has a consensus rating of “Hold” and an average price target of $14.50.

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Shares of Pitney Bowes Inc. (NYSE:PBI) traded down $0.03 during trading hours on Thursday, hitting $9.64. The stock had a trading volume of 3,887,700 shares, compared to its average volume of 2,702,792. The firm has a market capitalization of $1,805.66, a price-to-earnings ratio of 6.24 and a beta of 1.25. Pitney Bowes Inc. has a one year low of $9.50 and a one year high of $16.60. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.42 and a quick ratio of 1.37.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company had revenue of $842.82 million during the quarter, compared to analysts’ expectations of $837.60 million. Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. research analysts anticipate that Pitney Bowes Inc. will post 1.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date of this dividend is Monday, November 20th. Pitney Bowes’s payout ratio is currently 156.25%.

About Pitney Bowes

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.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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