Prudential Financial Inc. Acquires 82,552 Shares of Pitney Bowes Inc. $PBI

Prudential Financial Inc. boosted its holdings in Pitney Bowes Inc. (NYSE:PBI) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 816,663 shares of the technology company’s stock after buying an additional 82,552 shares during the quarter. Prudential Financial Inc.’s holdings in Pitney Bowes were worth $8,910,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Pitney Bowes in the first quarter worth approximately $98,000. Cetera Investment Advisers boosted its holdings in Pitney Bowes by 45.7% in the first quarter. Cetera Investment Advisers now owns 65,508 shares of the technology company’s stock worth $593,000 after purchasing an additional 20,536 shares during the last quarter. HB Wealth Management LLC bought a new stake in Pitney Bowes in the 1st quarter worth approximately $279,000. LPL Financial LLC raised its stake in Pitney Bowes by 50.4% during the 1st quarter. LPL Financial LLC now owns 351,233 shares of the technology company’s stock valued at $3,179,000 after buying an additional 117,636 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Pitney Bowes by 19.5% during the 1st quarter. Mackenzie Financial Corp now owns 80,753 shares of the technology company’s stock valued at $731,000 after buying an additional 13,195 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Activity

In other news, Director Brent D. Rosenthal acquired 3,000 shares of Pitney Bowes stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $11.97 per share, with a total value of $35,910.00. Following the completion of the purchase, the director directly owned 3,000 shares in the company, valued at approximately $35,910. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.00% of the stock is currently owned by company insiders.

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock opened at $9.86 on Friday. The stock has a market cap of $1.59 billion, a P/E ratio of 21.91, a P/E/G ratio of 0.57 and a beta of 1.27. The stock’s fifty day moving average is $10.58 and its 200 day moving average is $10.93. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results 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 negative return on equity of 40.31% and a net margin of 4.14%.The company had revenue of $459.68 million during the quarter, compared to analysts’ expectations of $467.45 million. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. Analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 10th will be given a $0.09 dividend. The ex-dividend date is Monday, November 10th. This is an increase 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 3.7%. Pitney Bowes’s dividend payout ratio (DPR) is currently 80.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PBI. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a research report on Tuesday. Finally, The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price target for the company. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

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.