Illinois Municipal Retirement Fund Sells 18,489 Shares of Pitney Bowes Inc. (NYSE:PBI)

Illinois Municipal Retirement Fund decreased its holdings in Pitney Bowes Inc. (NYSE:PBI) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,937 shares of the technology company’s stock after selling 18,489 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Pitney Bowes worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in shares of Pitney Bowes by 164.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock valued at $7,651,000 after buying an additional 1,082,506 shares during the period. Clifford Capital Partners LLC increased its stake in shares of Pitney Bowes by 27.0% during the third quarter. Clifford Capital Partners LLC now owns 4,428,463 shares of the technology company’s stock valued at $13,374,000 after buying an additional 940,595 shares during the period. Invesco Ltd. increased its stake in shares of Pitney Bowes by 13.3% during the third quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company’s stock valued at $8,251,000 after buying an additional 321,438 shares during the period. GSA Capital Partners LLP increased its stake in shares of Pitney Bowes by 301.6% during the third quarter. GSA Capital Partners LLP now owns 378,503 shares of the technology company’s stock valued at $1,143,000 after buying an additional 284,244 shares during the period. Finally, Capital Management Corp VA increased its stake in shares of Pitney Bowes by 2.3% during the third quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock valued at $13,709,000 after buying an additional 104,190 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Price Performance

PBI opened at $4.22 on Thursday. The business’s 50-day moving average is $4.12 and its two-hundred day moving average is $4.05. Pitney Bowes Inc. has a 1 year low of $2.80 and a 1 year high of $4.58. The firm has a market capitalization of $748.88 million, a PE ratio of -1.92, a price-to-earnings-growth ratio of 27.67 and a beta of 2.16.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The company had revenue of $871.58 million for the quarter, compared to analyst estimates of $849.85 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Monday, February 5th.

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.