TrueMark Investments LLC Sells 34,281 Shares of Pitney Bowes Inc. (NYSE:PBI)

TrueMark Investments LLC reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 77.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,186 shares of the technology company’s stock after selling 34,281 shares during the quarter. TrueMark Investments LLC’s holdings in Pitney Bowes were worth $74,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position in shares of Pitney Bowes by 39.2% during the third quarter. Intech Investment Management LLC now owns 88,639 shares of the technology company’s stock valued at $632,000 after buying an additional 24,952 shares during the last quarter. Algert Global LLC lifted its position in Pitney Bowes by 76.9% during the third quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock valued at $2,459,000 after acquiring an additional 149,944 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Pitney Bowes in the third quarter valued at approximately $197,000. Truvestments Capital LLC purchased a new position in Pitney Bowes in the third quarter worth $86,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Pitney Bowes by 33.6% during the third quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company’s stock worth $605,000 after purchasing an additional 21,367 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Insider Activity at Pitney Bowes

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 transaction, the executive vice president now directly owns 176,145 shares of the company’s stock, valued at approximately $1,907,650.35. This trade represents a 42.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the company’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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,974,484 shares of company stock valued at $19,815,631 in the last ninety days. Company insiders own 14.30% of the company’s stock.

Pitney Bowes Stock Performance

Shares of NYSE PBI opened at $9.50 on Thursday. Pitney Bowes Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $11.01. The company has a market cap of $1.74 billion, a PE ratio of -8.48, a P/E/G ratio of 0.59 and a beta of 2.02. The business has a 50-day simple moving average of $9.36 and a two-hundred day simple moving average of $8.04.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS 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, sell-side analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.53%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, February 21st. Pitney Bowes’s dividend payout ratio is presently -21.43%.

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.