Point72 DIFC Ltd Sells 4,605 Shares of Pitney Bowes Inc. (NYSE:PBI)

Point72 DIFC Ltd lessened its holdings in Pitney Bowes Inc. (NYSE:PBI) by 40.4% in the third quarter, HoldingsChannel reports. The fund owned 6,800 shares of the technology company’s stock after selling 4,605 shares during the period. Point72 DIFC Ltd’s holdings in Pitney Bowes were worth $48,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PBI. Assenagon Asset Management S.A. raised its stake in Pitney Bowes by 2,894.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock worth $8,760,000 after purchasing an additional 1,187,531 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Pitney Bowes by 248.1% during the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 503,378 shares during the period. PEAK6 Investments LLC acquired a new stake in shares of Pitney Bowes in the third quarter valued at approximately $3,470,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Pitney Bowes in the third quarter valued at approximately $3,442,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Pitney Bowes during the second quarter worth approximately $1,582,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Insider Activity

In other Pitney Bowes news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $8.12, for a total value of $343,540.96. Following the sale, the executive vice president now owns 18,664 shares in the company, valued at $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul J. Evans bought 29,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the purchase, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company’s stock.

Pitney Bowes Stock Up 0.8 %

PBI opened at $7.88 on Tuesday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.61, a P/E/G ratio of 1.37 and a beta of 1.97. Pitney Bowes Inc. has a twelve month low of $3.68 and a twelve month high of $8.80. The company has a 50-day simple moving average of $7.43 and a 200 day simple moving average of $6.68.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Sell-side analysts anticipate that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio is presently -9.17%.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.