TrueMark Investments LLC Sells 34,281 Shares of Pitney Bowes Inc. (NYSE:PBI)

TrueMark Investments LLC cut its stake in Pitney Bowes Inc. (NYSE:PBI) by 77.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,186 shares of the technology company’s stock after selling 34,281 shares during the quarter. TrueMark Investments LLC’s holdings in Pitney Bowes were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Hestia Capital Management LLC purchased a new stake in shares of Pitney Bowes in the fourth quarter valued at $114,326,000. Principal Financial Group Inc. raised its position in Pitney Bowes by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company’s stock worth $5,563,000 after purchasing an additional 30,658 shares during the period. Assenagon Asset Management S.A. raised its position in Pitney Bowes by 47.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after purchasing an additional 586,249 shares during the period. American Assets Inc. lifted its stake in Pitney Bowes by 80.6% in the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock worth $941,000 after purchasing an additional 58,000 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Pitney Bowes by 76.9% during the third quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock valued at $2,459,000 after buying an additional 149,944 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the transaction, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,974,484 shares of company stock worth $19,815,631 in the last ninety days. 14.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Pitney Bowes Trading Up 0.3 %

NYSE:PBI opened at $9.50 on Thursday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -8.48, a price-to-earnings-growth ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a twelve month low of $3.90 and a twelve month high of $11.01. The stock has a fifty day simple moving average of $9.36 and a 200-day simple moving average of $8.04.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, equities research analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.53%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio is -21.43%.

Pitney Bowes Profile

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.