265,341 Shares in Pitney Bowes Inc. $PBI Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 265,341 shares of the technology company’s stock, valued at approximately $2,895,000.

A number of other hedge funds have also bought and sold shares of PBI. New York State Teachers Retirement System increased its stake in Pitney Bowes by 0.5% during the second quarter. New York State Teachers Retirement System now owns 257,827 shares of the technology company’s stock valued at $2,813,000 after purchasing an additional 1,246 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Pitney Bowes by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 40,506 shares of the technology company’s stock worth $442,000 after purchasing an additional 1,974 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Pitney Bowes by 16.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,896 shares of the technology company’s stock valued at $182,000 after buying an additional 2,194 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Pitney Bowes by 7.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,485 shares of the technology company’s stock worth $442,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of Pitney Bowes by 4.3% in the 1st quarter. Atria Wealth Solutions Inc. now owns 85,340 shares of the technology company’s stock worth $772,000 after acquiring an additional 3,500 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pitney Bowes

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

Analysts Set New Price Targets

Several equities research analysts have 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. The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $9.18 on Wednesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.57 and a beta of 1.27. The business has a 50-day moving average of $10.86 and a two-hundred day moving average of $10.92. Pitney Bowes Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 40.31%. The company had revenue of $459.68 million for the quarter, compared to analyst estimates of $467.45 million. During the same period in the prior year, the company posted $0.21 EPS. The business’s revenue was down 8.0% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes announced that its board has authorized a stock buyback plan on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 10th will be paid a $0.09 dividend. The ex-dividend date is Monday, November 10th. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.9%. Pitney Bowes’s dividend payout ratio is presently 80.00%.

About Pitney Bowes

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.