Schroder Investment Management Group boosted its holdings in Pitney Bowes Inc. (NYSE:PBI) by 166.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,639,908 shares of the technology company’s stock after acquiring an additional 3,526,554 shares during the period. Schroder Investment Management Group’s holdings in Pitney Bowes were worth $63,054,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBI. Sirios Capital Management L P acquired a new position in Pitney Bowes in the third quarter valued at approximately $45,044,000. Miller Howard Investments Inc. NY lifted its holdings in Pitney Bowes by 32.9% in the third quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock valued at $71,351,000 after acquiring an additional 1,259,978 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pitney Bowes by 93.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock worth $31,863,000 after purchasing an additional 1,019,942 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Pitney Bowes during the third quarter worth $11,208,000. Finally, Levin Capital Strategies L.P. lifted its stake in Pitney Bowes by 802.5% during the fourth quarter. Levin Capital Strategies L.P. now owns 523,425 shares of the technology company’s stock worth $5,852,000 after purchasing an additional 465,425 shares in the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
Pitney Bowes Inc. (NYSE:PBI) opened at $12.34 on Tuesday. The company has a debt-to-equity ratio of 18.34, a quick ratio of 1.24 and a current ratio of 1.28. Pitney Bowes Inc. has a 52 week low of $9.50 and a 52 week high of $16.25. The company has a market capitalization of $2,304.23, a price-to-earnings ratio of 8.69 and a beta of 1.05.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid 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 (DPR) is 53.57%.
A number of research analysts have commented on the company. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “strong sell” rating in a research note on Monday, November 6th. Loop Capital decreased their price target on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, November 2nd. Finally, ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
WARNING: “Pitney Bowes Inc. (PBI) Position Lifted by Schroder Investment Management Group” was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2018/02/20/pitney-bowes-inc-pbi-position-lifted-by-schroder-investment-management-group.html.
About Pitney Bowes
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.
Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes Inc. (NYSE:PBI).
Receive News & Ratings for Pitney Bowes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes and related companies with MarketBeat.com's FREE daily email newsletter.