Gamco Investors INC. ET AL Has $3.70 Million Stake in Pitney Bowes Inc. (NYSE:PBI)

Gamco Investors INC. ET AL boosted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,700 shares of the technology company’s stock after purchasing an additional 125,200 shares during the period. Gamco Investors INC. ET AL owned about 0.28% of Pitney Bowes worth $3,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBI. Hestia Capital Management LLC bought a new position in shares of Pitney Bowes during the fourth quarter worth about $114,326,000. Principal Financial Group Inc. boosted its position in Pitney Bowes by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock worth $5,563,000 after acquiring an additional 30,658 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Pitney Bowes by 47.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after acquiring an additional 586,249 shares in the last quarter. American Assets Inc. raised its holdings in shares of Pitney Bowes by 80.6% in the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock valued at $941,000 after purchasing an additional 58,000 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Pitney Bowes by 182.4% in the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after purchasing an additional 624,878 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the completion of the sale, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This trade represents a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kurt James Wolf sold 1,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the sale, the director now owns 622,250 shares of the company’s stock, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock valued at $19,815,631 over the last three months. Insiders own 9.00% of the company’s stock.

Pitney Bowes Stock Performance

PBI opened at $8.00 on Friday. The business’s 50-day simple moving average is $9.39 and its 200 day simple moving average is $8.21. The firm has a market capitalization of $1.46 billion, a PE ratio of -7.14, a PEG ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a 52-week low of $3.94 and a 52-week high of $11.01.

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

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a $0.06 dividend. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 3.00%. Pitney Bowes’s dividend payout ratio is currently -21.43%.

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.