Hsbc Holdings PLC Purchases 185,326 Shares of Pitney Bowes Inc. $PBI

Hsbc Holdings PLC boosted its holdings in Pitney Bowes Inc. (NYSE:PBI) by 32.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 750,224 shares of the technology company’s stock after purchasing an additional 185,326 shares during the quarter. Hsbc Holdings PLC’s holdings in Pitney Bowes were worth $7,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PBI. LSV Asset Management raised its stake in Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after purchasing an additional 2,986,689 shares during the period. Cannell & Spears LLC lifted its holdings in Pitney Bowes by 89.5% in the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock worth $38,389,000 after purchasing an additional 1,588,579 shares in the last quarter. Millennium Management LLC boosted its stake in Pitney Bowes by 60.2% in the 4th quarter. Millennium Management LLC now owns 2,630,801 shares of the technology company’s stock worth $27,808,000 after purchasing an additional 988,653 shares during the period. Invesco Ltd. boosted its stake in Pitney Bowes by 29.5% in the 3rd quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company’s stock worth $29,917,000 after purchasing an additional 597,938 shares during the period. Finally, Capital Management Corp VA grew its holdings in Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock valued at $30,974,000 after buying an additional 592,568 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PBI shares. Truist Financial lifted their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research report on Friday, May 8th. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their target price for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Citizens Jmp lifted their price target on shares of Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Friday, June 5th. Finally, Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Insiders Place Their Bets

In other news, CEO Kurt James Wolf sold 316,280 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $17.10, for a total value of $5,408,388.00. Following the sale, the chief executive officer directly owned 217,930 shares in the company, valued at $3,726,603. The trade was a 59.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Pfeiffer sold 18,750 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $16.06, for a total transaction of $301,125.00. Following the completion of the sale, the executive vice president owned 97,828 shares in the company, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,352,030 shares of company stock worth $53,321,104. 6.50% of the stock is owned by insiders.

Pitney Bowes Price Performance

NYSE PBI opened at $17.27 on Thursday. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $18.25. The business has a 50 day simple moving average of $16.47 and a two-hundred day simple moving average of $12.89. The stock has a market capitalization of $2.34 billion, a PE ratio of 16.76, a P/E/G ratio of 0.76 and a beta of 1.62.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. On average, analysts anticipate that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, May 18th. Pitney Bowes’s payout ratio is currently 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.