Mercer Global Advisors Inc. ADV Acquires New Position in Pitney Bowes Inc. (PBI)

Mercer Global Advisors Inc. ADV acquired a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the first quarter, HoldingsChannel reports. The fund acquired 10,347 shares of the technology company’s stock, valued at approximately $71,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PBI. Teachers Advisors LLC increased its stake in Pitney Bowes by 5.5% during the third quarter. Teachers Advisors LLC now owns 375,122 shares of the technology company’s stock worth $2,656,000 after acquiring an additional 19,630 shares during the last quarter. Legal & General Group Plc increased its stake in Pitney Bowes by 3.2% during the third quarter. Legal & General Group Plc now owns 331,866 shares of the technology company’s stock worth $2,350,000 after acquiring an additional 10,270 shares during the last quarter. Morgan Stanley increased its stake in Pitney Bowes by 18.2% during the third quarter. Morgan Stanley now owns 1,370,690 shares of the technology company’s stock worth $9,705,000 after acquiring an additional 211,019 shares during the last quarter. Vanguard Group Inc. increased its stake in Pitney Bowes by 1.0% during the third quarter. Vanguard Group Inc. now owns 17,450,313 shares of the technology company’s stock worth $123,548,000 after acquiring an additional 165,880 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Pitney Bowes during the third quarter worth approximately $445,000. Hedge funds and other institutional investors own 74.39% of the company’s stock.

PBI opened at $4.98 on Friday. The company has a market cap of $901.82 million, a PE ratio of 4.84 and a beta of 1.46. Pitney Bowes Inc. has a one year low of $4.82 and a one year high of $9.71. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 35.45.

Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, May 1st. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The business had revenue of $868.40 million for the quarter, compared to the consensus estimate of $866.04 million. Pitney Bowes had a net margin of 4.77% and a return on equity of 99.26%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, equities research analysts predict that Pitney Bowes Inc. will post 0.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.02%. Pitney Bowes’s dividend payout ratio is 17.24%.

Pitney Bowes announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 5th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Several equities research analysts have weighed in on PBI shares. Northcoast Research cut Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 6th. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Maxim Group reaffirmed a “buy” rating and set a $11.00 target price on shares of Pitney Bowes in a research note on Wednesday, April 24th.

In other news, VP Stanley J. Sutula III purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $5.34 per share, for a total transaction of $26,700.00. Following the completion of the acquisition, the vice president now owns 15,000 shares of the company’s stock, valued at $80,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert M. Dutkowsky purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average price of $5.22 per share, with a total value of $52,200.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $52,200. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 18,600 shares of company stock worth $99,492. Insiders own 3.20% of the company’s stock.

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Pitney Bowes Profile

Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

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Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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