Vanguard Trims Pitney Bowes Stake to 7.9% as of Dec 29, 2023

TL;DR

**Vanguard cut its Pitney Bowes stake to 7.9%, signaling a potential bearish shift.**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment (SC 13G/A) on February 13, 2024, updating its beneficial ownership in Pitney Bowes Inc. As of December 29, 2023, Vanguard reported holding 14,007,816 shares of Pitney Bowes common stock, representing 7.9% of the company's outstanding shares. This is a decrease from their previous reported ownership, indicating Vanguard has reduced its stake, which could signal a less optimistic outlook on Pitney Bowes' future performance to current or prospective investors.

Why It Matters

A reduction in ownership by a large institutional investor like Vanguard can be interpreted as a lack of confidence in the company's future prospects, potentially influencing other investors' decisions and the stock price.

Risk Assessment

Risk Level: medium — A significant institutional investor reducing its stake introduces uncertainty and could pressure the stock price, but it's not an immediate catastrophic event.

Analyst Insight

A smart investor would investigate the reasons behind Vanguard's reduction in stake and consider if it aligns with their own investment thesis for Pitney Bowes before making any buy or sell decisions.

Key Numbers

• 14,007,816 — Shares Beneficially Owned (The total number of Pitney Bowes common shares Vanguard holds as of December 29, 2023.)
• 7.9% — Percentage of Class Outstanding (This represents Vanguard's total ownership percentage of Pitney Bowes' common stock, indicating a decrease from previous filings.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Pitney Bowes Inc (company) — issuer of the securities
• 14,007,816 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.9% (dollar_amount) — percentage of class outstanding owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Pitney Bowes' stock price may experience downward pressure due to Vanguard's reduced stake. (Pitney Bowes Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Pitney Bowes following Vanguard's move. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• tv01707-pitneybowesinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021721.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Pitney Bowes Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 3001 Summer Street Stamford, CT 06926-0700

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 724479100

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR