Schroder Investment Management Group grew its stake in Pitney Bowes Inc. (NYSE:PBI) by 166.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,639,908 shares of the technology company’s stock after purchasing an additional 3,526,554 shares during the period. Schroder Investment Management Group owned approximately 3.02% of Pitney Bowes worth $63,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its position in shares of Pitney Bowes by 1.3% in the second quarter. Public Employees Retirement System of Ohio now owns 60,488 shares of the technology company’s stock valued at $913,000 after purchasing an additional 784 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Pitney Bowes by 38.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,259 shares of the technology company’s stock valued at $230,000 after purchasing an additional 4,268 shares in the last quarter. First Trust Advisors LP grew its position in shares of Pitney Bowes by 2.7% in the third quarter. First Trust Advisors LP now owns 174,085 shares of the technology company’s stock valued at $2,439,000 after purchasing an additional 4,539 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Pitney Bowes by 0.6% in the third quarter. Principal Financial Group Inc. now owns 795,001 shares of the technology company’s stock valued at $11,138,000 after purchasing an additional 5,092 shares in the last quarter. Finally, ING Groep NV grew its position in shares of Pitney Bowes by 23.2% in the fourth quarter. ING Groep NV now owns 28,176 shares of the technology company’s stock valued at $315,000 after purchasing an additional 5,313 shares in the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Pitney Bowes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 8th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Loop Capital dropped their price target on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.50.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Pitney Bowes had a return on equity of 379.85% and a net margin of 7.36%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. equities analysts anticipate that Pitney Bowes Inc. will post 1.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Thursday, February 15th. Pitney Bowes’s dividend payout ratio is presently 53.57%.
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About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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