Meeder Asset Management Inc. Purchases New Holdings in Pitney Bowes Inc. (NYSE:PBI)

Meeder Asset Management Inc. purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,290 shares of the technology company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Hestia Capital Management LLC purchased a new position in shares of Pitney Bowes in the 4th quarter worth about $114,326,000. Principal Financial Group Inc. raised its position in Pitney Bowes by 4.2% in the fourth 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 period. Assenagon Asset Management S.A. boosted its stake in Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after acquiring an additional 586,249 shares during the last quarter. American Assets Inc. grew its position in shares of Pitney Bowes by 80.6% during the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock valued at $941,000 after acquiring an additional 58,000 shares during the period. Finally, FMR LLC increased its stake in shares of Pitney Bowes by 3,308.0% during the 3rd quarter. FMR LLC now owns 320,152 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 310,758 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Monday.

Pitney Bowes Price Performance

NYSE PBI opened at $9.16 on Thursday. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01. The company’s 50 day simple moving average is $9.56 and its two-hundred day simple moving average is $8.13. The stock has a market capitalization of $1.67 billion, a PE ratio of -8.18, a P/E/G ratio of 0.59 and a beta of 2.02.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were paid a $0.06 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 2.62%. Pitney Bowes’s dividend payout ratio is -21.43%.

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Arthur Fairweather sold 130,000 shares of the business’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 value of $1,407,900.00. Following the completion of the sale, the executive vice president now owns 176,145 shares of the company’s stock, valued at $1,907,650.35. The trade was a 42.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,974,484 shares of company stock worth $19,815,631 in the last 90 days. 14.30% of the stock is owned by company insiders.

About Pitney Bowes

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.