106,385 Shares in Pitney Bowes Inc. (NYSE:PBI) Bought by Range Financial Group LLC

Range Financial Group LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 106,385 shares of the technology company’s stock, valued at approximately $963,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PBI. Hestia Capital Management LLC acquired a new position in Pitney Bowes during the fourth quarter worth $114,326,000. Vanguard Group Inc. grew its holdings in Pitney Bowes by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock valued at $153,217,000 after purchasing an additional 1,299,716 shares during the last quarter. First Trust Advisors LP acquired a new stake in Pitney Bowes in the fourth quarter valued at $6,245,000. Millennium Management LLC grew its holdings in Pitney Bowes by 103.0% in the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company’s stock valued at $9,189,000 after purchasing an additional 644,002 shares during the last quarter. Finally, PEAK6 LLC acquired a new stake in Pitney Bowes in the fourth quarter valued at $3,547,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Up 1.9%

Shares of NYSE:PBI opened at $10.52 on Monday. Pitney Bowes Inc. has a 52-week low of $4.62 and a 52-week high of $11.01. The stock’s fifty day simple moving average is $9.02 and its 200-day simple moving average is $8.75. The company has a market capitalization of $1.93 billion, a P/E ratio of -9.39, a P/E/G ratio of 0.59 and a beta of 1.61.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The business had revenue of $493.42 million for the quarter, compared to the consensus estimate of $498.99 million. During the same period in the prior year, the business earned ($0.01) earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Monday, May 19th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, May 19th. Pitney Bowes’s dividend payout ratio (DPR) is -30.77%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PBI shares. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 15th. Sidoti raised Pitney Bowes to a “hold” rating in a report on Monday, May 5th.

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.