D. E. Shaw & Co. Inc. Sells 461,977 Shares of Pitney Bowes Inc. (NYSE:PBI)

D. E. Shaw & Co. Inc. reduced its stake in Pitney Bowes Inc. (NYSE:PBI) by 32.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 940,773 shares of the technology company’s stock after selling 461,977 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Pitney Bowes were worth $6,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Pitney Bowes in the 4th quarter worth $31,000. Smartleaf Asset Management LLC boosted its position in shares of Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,873 shares during the last quarter. Xponance Inc. boosted its position in shares of Pitney Bowes by 36.7% in the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after purchasing an additional 3,837 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Pitney Bowes in the 4th quarter worth $110,000. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Pitney Bowes in the 4th quarter worth $130,000. 67.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PBI. StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Sidoti upgraded Pitney Bowes to a “hold” rating in a report on Monday, May 5th.

Insiders Place Their Bets

In other news, EVP James Arthur Fairweather sold 130,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the sale, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. The trade was a 42.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kurt James Wolf sold 481,199 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the sale, the director now owns 584,636 shares in the company, valued at approximately $6,296,529.72. This trade represents a 45.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 613,244 shares of company stock worth $6,607,591. Corporate insiders own 9.00% of the company’s stock.

Pitney Bowes Trading Up 1.6%

PBI stock opened at $9.55 on Friday. The business’s 50-day moving average price is $8.81 and its two-hundred day moving average price is $8.46. The firm has a market cap of $1.75 billion, a PE ratio of -8.53, a P/E/G ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a 1-year low of $4.62 and a 1-year high of $11.01.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.93%. Pitney Bowes’s payout ratio is currently -30.77%.

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.