Corsair Capital Management L.P. Has $715,000 Position in Pitney Bowes Inc. (NYSE:PBI)

Corsair Capital Management L.P. grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 26.3% during the third quarter, Holdings Channel reports. The firm owned 100,328 shares of the technology company’s stock after acquiring an additional 20,885 shares during the quarter. Corsair Capital Management L.P.’s holdings in Pitney Bowes were worth $715,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Pitney Bowes during the 2nd quarter worth approximately $48,000. Point72 DIFC Ltd increased its holdings in shares of Pitney Bowes by 218.0% during the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after acquiring an additional 7,819 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Pitney Bowes during the third quarter worth approximately $86,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Pitney Bowes by 15.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Pitney Bowes by 3,412.2% in the 2nd quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after purchasing an additional 16,174 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul J. Evans bought 29,000 shares of Pitney Bowes stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $7.80 per share, with a total value of $226,200.00. Following the transaction, the director now directly owns 29,000 shares of the company’s stock, valued at approximately $226,200. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.30% of the company’s stock.

Pitney Bowes Stock Performance

Shares of PBI opened at $8.16 on Wednesday. The firm has a market capitalization of $1.48 billion, a P/E ratio of -3.76, a P/E/G ratio of 1.43 and a beta of 1.97. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The stock has a 50 day moving average price of $7.27 and a two-hundred day moving average price of $6.51.

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

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, November 18th. Pitney Bowes’s payout ratio is -9.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

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.