Atria Wealth Solutions Inc. Acquires 4,132 Shares of Pitney Bowes Inc. $PBI

Atria Wealth Solutions Inc. increased its holdings in Pitney Bowes Inc. (NYSE:PBI) by 4.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 89,472 shares of the technology company’s stock after buying an additional 4,132 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Pitney Bowes were worth $976,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PBI. Alyeska Investment Group L.P. bought a new stake in Pitney Bowes in the 1st quarter worth about $11,032,000. Hennessy Advisors Inc. bought a new stake in Pitney Bowes in the 2nd quarter worth about $12,660,000. Invesco Ltd. increased its holdings in Pitney Bowes by 38.9% in the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock worth $26,415,000 after buying an additional 817,953 shares in the last quarter. Deutsche Bank AG increased its holdings in Pitney Bowes by 493.1% in the 1st quarter. Deutsche Bank AG now owns 850,538 shares of the technology company’s stock worth $7,697,000 after buying an additional 707,133 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Pitney Bowes by 2,074.5% in the 1st quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company’s stock worth $6,593,000 after buying an additional 694,982 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Stock Up 1.1%

Pitney Bowes stock opened at $11.26 on Friday. The business has a 50-day simple moving average of $11.56 and a two-hundred day simple moving average of $10.57. The company has a market cap of $1.94 billion, a P/E ratio of -18.77, a P/E/G ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a 52-week low of $6.88 and a 52-week high of $13.11.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The firm had revenue of $461.91 million for the quarter, compared to analysts’ expectations of $475.92 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s quarterly revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes declared that its board has approved a share buyback program on Wednesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 11th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s payout ratio is presently -53.33%.

Insider Buying and Selling

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average cost of $11.97 per share, with a total value of $35,910.00. Following the acquisition, the director owned 3,000 shares in the company, valued at approximately $35,910. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PBI shares. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Pitney Bowes in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.