Strs Ohio cut its position in shares of Pitney Bowes Inc. (NYSE:PBI – Get Rating) by 77.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,200 shares of the technology company’s stock after selling 88,800 shares during the period. Strs Ohio’s holdings in Pitney Bowes were worth $61,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sage Rhino Capital LLC purchased a new stake in Pitney Bowes during the third quarter valued at approximately $31,000. Point72 Hong Kong Ltd purchased a new stake in Pitney Bowes during the second quarter valued at approximately $51,000. KBC Group NV purchased a new stake in Pitney Bowes during the second quarter valued at approximately $52,000. Delphia USA Inc. raised its position in Pitney Bowes by 15.6% during the first quarter. Delphia USA Inc. now owns 17,388 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,346 shares during the period. Finally, Captrust Financial Advisors raised its position in Pitney Bowes by 63.8% during the first quarter. Captrust Financial Advisors now owns 17,719 shares of the technology company’s stock valued at $92,000 after purchasing an additional 6,904 shares during the period. 72.13% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, October 7th.
Pitney Bowes Trading Up 2.4 %
Pitney Bowes Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 4.65%. Pitney Bowes’s payout ratio is 111.12%.
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, Canada, and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.
- Get a free copy of the StockNews.com research report on Pitney Bowes (PBI)
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