KBC Group NV Acquires 166,890 Shares of Pitney Bowes Inc. (PBI)

KBC Group NV raised its holdings in Pitney Bowes Inc. (NYSE:PBI) by 50.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 494,448 shares of the technology company’s stock after purchasing an additional 166,890 shares during the quarter. KBC Group NV’s holdings in Pitney Bowes were worth $5,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBI. Public Employees Retirement System of Ohio raised its position in shares of Pitney Bowes by 1.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 60,488 shares of the technology company’s stock valued at $913,000 after buying an additional 784 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Pitney Bowes by 38.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,259 shares of the technology company’s stock valued at $230,000 after buying an additional 4,268 shares in the last quarter. First Trust Advisors LP raised its position in shares of Pitney Bowes by 2.7% in the 3rd quarter. First Trust Advisors LP now owns 174,085 shares of the technology company’s stock valued at $2,439,000 after buying an additional 4,539 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Pitney Bowes by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 795,001 shares of the technology company’s stock valued at $11,138,000 after buying an additional 5,092 shares in the last quarter. Finally, ING Groep NV raised its position in shares of Pitney Bowes by 23.2% in the 4th quarter. ING Groep NV now owns 28,176 shares of the technology company’s stock valued at $315,000 after buying an additional 5,313 shares in the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on PBI shares. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “strong sell” rating in a research report on Monday, November 6th. Finally, Loop Capital dropped their target price on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Pitney Bowes Inc. (NYSE:PBI) opened at $12.34 on Friday. The company has a market cap of $2,304.22, a P/E ratio of 8.69 and a beta of 1.05. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 18.34. Pitney Bowes Inc. has a 12-month low of $9.50 and a 12-month high of $16.25.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Pitney Bowes had a net margin of 7.36% and a return on equity of 379.85%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. sell-side analysts predict that Pitney Bowes Inc. will post 1.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend is Thursday, February 15th. Pitney Bowes’s dividend payout ratio is 53.57%.

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Pitney Bowes Profile

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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

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