Do Pitney Bowes’ Major Stock Supporters See Promise for These Enhancements?
As 2012 is almost halfway complete, Pitney Bowes’ (NYSE:PBI) shares are down 26.16 percent. However, patient shareholders are being paid an annual dividend beyond 11%. Last week, the company announced in a press release that its Pitney Bowes Legal Solutions (PBLS) unit, which conducts document management, eDiscovery and litigation support services, made numerous enhancements to its eDiscovery and litigation services portfolio; this is targeted to law firms and corporate counsel.
Changes included the addition of industry-leading early case assessment and hosted review software and managed review services to the unit’s comprehensive eDiscovery offering; it also made more investments in its national data center and service delivery teams.
With the enhancements to its PBLS unit, will Pitney Bowes’ largest shareholders increase their positions? 460 institutional firms indicated owning shares of Pitney Bowes Inc. (NYSE:PBI) in Q1 2012. These firms reported owning a total of 195.915 million shares on 03/31/2012. The shares closed at $17.17 on 03/31/2012.
Here are the ten largest positions in Pitney Bowes Inc. at the end of March 31st, 2012.
State Street Corp held 28,484,092 shares on 03/31/2012 worth $500,750,335. This brought the portfolio total to 0.08%.
Allianz Asset Management of America L.P. held 17,547,395 shares on 03/31/2012 worth $308,483,203. This brought the portfolio total to 0.79%.
Vanguard Group Inc held 13,206,368 shares on 03/31/2012 worth $232,167,948. This brought the portfolio total to 0.03%.
Bank of New York Mellon Corp held 10,011,145 shares on 03/31/2012 worth $175,995,928. This brought the portfolio total to 0.07%.
NWQ Investment Management Co LLC held 7,663,912 shares on 03/31/2012 worth $134,731,572. This brought the portfolio total to 0.91%.
Blackrock Fund Advisors held 6,886,661 shares on 03/31/2012 worth $121,067,500. This brought the portfolio total to 0.06%.
Ameriprise Financial Inc held 6,582,854 shares on 03/31/2012 worth $115,726,573. This brought the portfolio total to 0.08%.
Blackrock Institutional Trust Company N.A. held 4,962,281 shares on 03/31/2012 worth $87,236,900. This brought the portfolio total to 0.02%.
Managed Account Advisors LLC held 3,605,676 shares on 03/31/2012 worth $63,387,784. This brought the portfolio total to 0.11%.
Jefferies Group Inc /DE/ held 3,245,000 shares on 03/31/2012 worth $57,047,000. This brought the portfolio total to 0.35%.
About the company: Pitney Bowes Inc. sells and finances, rents, and services integrated mail and document management systems. The Company offers a full suite of equipment, supplies, software and services for end-to-end mailstream solutions.
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