Phoenix Financial Ltd. Takes Position in Pitney Bowes Inc. $PBI

Phoenix Financial Ltd. purchased a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 306,000 shares of the technology company’s stock, valued at approximately $3,493,000.

Several other hedge funds have also recently bought and sold shares of PBI. Trail Ridge Investment Advisors LLC boosted its position in Pitney Bowes by 5.1% during the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 20,890 shares of the technology company’s stock worth $238,000 after acquiring an additional 1,008 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,015 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Pitney Bowes by 0.5% during the second quarter. New York State Teachers Retirement System now owns 257,827 shares of the technology company’s stock worth $2,813,000 after purchasing an additional 1,246 shares during the period. Baird Financial Group Inc. grew its position in Pitney Bowes by 12.5% during the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock valued at $144,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Pitney Bowes by 3.4% in the 3rd quarter. Amalgamated Bank now owns 46,680 shares of the technology company’s stock valued at $533,000 after buying an additional 1,555 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PBI has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a research note on Monday, December 29th. JMP Securities set a $13.00 price objective on Pitney Bowes in a research report on Wednesday, December 3rd. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Citigroup assumed coverage on Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. Finally, Citizens Jmp assumed coverage on Pitney Bowes in a report on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Pitney Bowes Stock Performance

PBI opened at $10.17 on Wednesday. The stock has a 50-day moving average of $10.22 and a 200-day moving average of $10.92. Pitney Bowes Inc. has a 52-week low of $7.39 and a 52-week high of $13.11. The company has a market cap of $1.64 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $459.68 million for the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. On average, research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Company 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.