Graham Capital Management L.P. Acquires 10,813 Shares of Pitney Bowes Inc. (NYSE:PBI)

Graham Capital Management L.P. boosted its position in Pitney Bowes Inc. (NYSE:PBI) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,490 shares of the technology company’s stock after acquiring an additional 10,813 shares during the quarter. Graham Capital Management L.P.’s holdings in Pitney Bowes were worth $561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PBI. Barclays PLC boosted its position in Pitney Bowes by 298.5% during the 3rd quarter. Barclays PLC now owns 277,469 shares of the technology company’s stock valued at $1,977,000 after buying an additional 207,838 shares during the period. Franklin Resources Inc. grew its holdings in Pitney Bowes by 593.2% in the third quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company’s stock worth $751,000 after purchasing an additional 91,251 shares during the period. JPMorgan Chase & Co. raised its stake in Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after buying an additional 624,878 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after acquiring an additional 586,249 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of Pitney Bowes by 0.5% during the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after acquiring an additional 3,100 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Kurt James Wolf sold 481,199 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the transaction, the director now directly owns 584,636 shares of the company’s stock, valued at approximately $6,296,529.72. This trade represents a 45.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Arthur Fairweather sold 130,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at $1,907,650.35. This represents a 42.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 613,244 shares of company stock worth $6,607,591. Insiders own 9.00% of the company’s stock.

Pitney Bowes Stock Performance

NYSE:PBI opened at $9.55 on Friday. Pitney Bowes Inc. has a 52-week low of $4.62 and a 52-week high of $11.01. The firm has a market capitalization of $1.75 billion, a PE ratio of -8.53, a P/E/G ratio of 0.59 and a beta of 1.47. The stock has a 50-day simple moving average of $8.81 and a two-hundred day simple moving average of $8.46.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $493.42 million during 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 business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Equities analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 19th will be paid a $0.07 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.28 dividend on an annualized basis and a yield of 2.93%. Pitney Bowes’s payout ratio is presently -30.77%.

Pitney Bowes Company 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.