Sei Investments Co. Grows Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Sei Investments Co. raised its stake in Pitney Bowes Inc. (NYSE:PBI) by 116.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,167 shares of the technology company’s stock after buying an additional 13,006 shares during the period. Sei Investments Co.’s holdings in Pitney Bowes were worth $175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PBI. The Manufacturers Life Insurance Company grew its holdings in shares of Pitney Bowes by 33.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company’s stock worth $605,000 after acquiring an additional 21,367 shares during the period. FMR LLC grew its holdings in Pitney Bowes by 3,308.0% in the third quarter. FMR LLC now owns 320,152 shares of the technology company’s stock valued at $2,283,000 after purchasing an additional 310,758 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pitney Bowes by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,422 shares of the technology company’s stock valued at $2,641,000 after buying an additional 8,973 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Pitney Bowes during the 3rd quarter worth $213,000. Finally, XTX Topco Ltd raised its stake in shares of Pitney Bowes by 210.1% during the 3rd quarter. XTX Topco Ltd now owns 77,836 shares of the technology company’s stock worth $555,000 after buying an additional 52,733 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Monday, March 31st.

Insiders Place Their Bets

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the transaction, the director now owns 622,250 shares of the company’s stock, valued at $6,010,935. This represents a 66.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,974,484 shares of company stock valued at $19,815,631 in the last ninety days. Insiders own 14.30% of the company’s stock.

Pitney Bowes Price Performance

Shares of PBI opened at $8.02 on Friday. Pitney Bowes Inc. has a 1-year low of $3.92 and a 1-year high of $11.01. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -7.16, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89. The firm has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $8.19.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. On average, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a $0.06 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.99%. Pitney Bowes’s payout ratio is presently -21.43%.

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 and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.