72,000 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by American Assets Inc.

American Assets Inc. bought a new position in Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 72,000 shares of the technology company’s stock, valued at approximately $513,000. Pitney Bowes comprises approximately 0.2% of American Assets Inc.’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in Pitney Bowes in the first quarter worth approximately $764,000. BNP Paribas Financial Markets raised its position in Pitney Bowes by 10.0% in the first quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock worth $935,000 after acquiring an additional 19,690 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Pitney Bowes during the 2nd quarter valued at $208,000. Quadrature Capital Ltd raised its position in shares of Pitney Bowes by 21.6% during the 1st quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock valued at $287,000 after purchasing an additional 11,753 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after purchasing an additional 503,378 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st.

Pitney Bowes Price Performance

Shares of PBI stock traded down $0.20 on Tuesday, hitting $7.79. 129,877 shares of the stock traded hands, compared to its average volume of 1,751,221. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -3.67, a PEG ratio of 1.44 and a beta of 1.97. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The firm has a 50 day simple moving average of $7.03 and a two-hundred day simple moving average of $6.26.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 13.85%. Sell-side analysts forecast that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.57%. Pitney Bowes’s payout ratio is -9.17%.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.