Jackson Creek Investment Advisors LLC Acquires New Shares in Pitney Bowes Inc. (NYSE:PBI)

Jackson Creek Investment Advisors LLC acquired a new stake in Pitney Bowes Inc. (NYSE:PBI) during the 1st quarter, Holdings Channel.com reports. The fund acquired 148,257 shares of the technology company’s stock, valued at approximately $1,342,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Pitney Bowes by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock valued at $153,217,000 after buying an additional 1,299,716 shares during the last quarter. Millennium Management LLC raised its stake in Pitney Bowes by 103.0% during the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company’s stock valued at $9,189,000 after buying an additional 644,002 shares during the last quarter. Bank of America Corp DE raised its stake in Pitney Bowes by 43.0% during the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company’s stock valued at $6,752,000 after buying an additional 280,402 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Pitney Bowes by 33.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 880,300 shares of the technology company’s stock valued at $6,373,000 after buying an additional 221,300 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in Pitney Bowes during the 4th quarter valued at $6,245,000. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Price Performance

Shares of NYSE:PBI traded up $0.04 during midday trading on Friday, hitting $11.81. The company had a trading volume of 307,797 shares, compared to its average volume of 2,374,119. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -12.98, a PEG ratio of 0.62 and a beta of 1.60. Pitney Bowes Inc. has a 12-month low of $5.58 and a 12-month high of $12.55. The company has a fifty day moving average of $10.46 and a two-hundred day moving average of $9.37.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate 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 31.61% and a negative net margin of 7.18%. Pitney Bowes’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. Research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.28 annualized dividend and a yield of 2.37%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.06. Pitney Bowes’s dividend payout ratio is currently -30.77%.

Insider Activity at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares of the company’s stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PBI. Sidoti upgraded Pitney Bowes to a “hold” rating in a research note on Monday, May 5th. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 15th.

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.