Paul J. Evans Buys 29,000 Shares of Pitney Bowes Inc. (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) Director Paul J. Evans bought 29,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the purchase, the director now owns 29,000 shares in the company, valued at $226,200. 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 available at this hyperlink.

Pitney Bowes Price Performance

NYSE:PBI opened at $8.05 on Friday. Pitney Bowes Inc. has a one year low of $3.68 and a one year high of $8.80. The company has a fifty day moving average price of $7.21 and a 200 day moving average price of $6.45. The stock has a market cap of $1.46 billion, a P/E ratio of -3.69, a PEG ratio of 1.35 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The company had revenue of $499.46 million for the quarter, compared to the consensus estimate of $467.80 million. As a group, equities research analysts anticipate that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.48%. Pitney Bowes’s dividend payout ratio (DPR) is -9.17%.

Institutional Trading of Pitney Bowes

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new position in Pitney Bowes in the first quarter worth $764,000. Assenagon Asset Management S.A. bought a new position in shares of Pitney Bowes during the 2nd quarter worth about $208,000. Quadrature Capital Ltd boosted its position in shares of Pitney Bowes by 21.6% during the 1st quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock valued at $287,000 after acquiring an additional 11,753 shares in the last quarter. American Assets Inc. acquired a new stake in shares of Pitney Bowes during the 3rd quarter valued at about $513,000. Finally, Marshall Wace LLP increased its stake in Pitney Bowes by 248.1% in the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after acquiring an additional 503,378 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

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.