First Citizens Bank & Trust Co. Raises Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

First Citizens Bank & Trust Co. grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,677 shares of the technology company’s stock after acquiring an additional 2,020 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Pitney Bowes were worth $150,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Point72 DIFC Ltd boosted its holdings in Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares during the last quarter. Quarry LP lifted its holdings in shares of Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after buying an additional 7,478 shares during the period. Truvestments Capital LLC purchased a new position in shares of Pitney Bowes in the 3rd quarter worth $86,000. AQR Capital Management LLC bought a new stake in shares of Pitney Bowes in the second quarter worth $97,000. Finally, nVerses Capital LLC increased its position in Pitney Bowes by 59.6% during the third quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock valued at $107,000 after acquiring an additional 5,600 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Stock Performance

PBI stock opened at $8.89 on Wednesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -4.08, a P/E/G ratio of 0.45 and a beta of 2.00. The business’s 50-day moving average is $7.64 and its two-hundred day moving average is $7.21. Pitney Bowes Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $9.29.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. The firm had revenue of $499.46 million for the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Equities analysts predict that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.25%. Pitney Bowes’s dividend payout ratio (DPR) is -9.17%.

Insider Buying and Selling

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the sale, the executive vice president now directly owns 124,124 shares in the company, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Evans bought 29,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the purchase, the director now owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 14.30% of the stock is owned by insiders.

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.