Pitney Bowes Inc. $PBI Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 599.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,502 shares of the technology company’s stock after acquiring an additional 67,272 shares during the quarter. Truist Financial Corp’s holdings in Pitney Bowes were worth $896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Evergreen Wealth Management LLC acquired a new position in shares of Pitney Bowes in the third quarter valued at approximately $6,691,000. Allspring Global Investments Holdings LLC boosted its position in Pitney Bowes by 76.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 555,747 shares of the technology company’s stock valued at $6,341,000 after buying an additional 241,465 shares during the period. Phoenix Financial Ltd. purchased a new position in Pitney Bowes in the 3rd quarter valued at approximately $3,493,000. Mizuho Markets Americas LLC acquired a new position in shares of Pitney Bowes in the third quarter worth $7,683,000. Finally, Permit Capital LLC increased its position in shares of Pitney Bowes by 18.8% during the second quarter. Permit Capital LLC now owns 2,850,000 shares of the technology company’s stock worth $31,094,000 after acquiring an additional 450,000 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PBI. The Goldman Sachs Group initiated coverage on Pitney Bowes in a report on Monday, November 3rd. They issued a “neutral” rating and a $11.00 target price for the company. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. JMP Securities set a $13.00 price objective on Pitney Bowes in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. Finally, Citigroup began coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Pitney Bowes presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Pitney Bowes Stock Performance

Shares of NYSE PBI opened at $10.79 on Wednesday. Pitney Bowes Inc. has a fifty-two week low of $7.39 and a fifty-two week high of $13.11. The firm has a market capitalization of $1.74 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 0.50 and a beta of 1.41. The stock’s 50-day simple moving average is $10.38 and its 200-day simple moving average is $10.80.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.