- Ancora Holdings transitions to direct ownership of Pitney Bowes (PBI, Financial) shares, reinforcing support for current management.
- Pitney Bowes continues to show strong financial performance under CEO Kurt Wolf.
- Institutional ownership of Pitney Bowes remains high at over 70%, reflecting strong investor confidence.
Ancora Holdings Group, LLC has announced its decision to redeem its investment in a special purpose vehicle managed by Hestia Capital Management LLC and directly hold shares in Pitney Bowes Inc. (PBI). The decision emphasizes Ancora's confidence in Pitney Bowes' leadership and strategic direction.
Ancora has expressed satisfaction with the efforts of Kurt Wolf, CEO of Pitney Bowes, citing his role in driving significant cost reductions, repatriating cash, reducing debt, and divesting the Global Ecommerce unit. These efforts have been aligned with Ancora's investment strategy focused on value creation.
Founded in 2003, Ancora Holdings Group, LLC specializes in investment advisory and wealth management services. Ancora Alternatives, its alternative asset management division, actively engages in strategies such as activism and commodities. The firm's decision to hold Pitney Bowes shares directly signals a commitment to long-term investment in the company.
Pitney Bowes, headquartered in Stamford, is making notable advancements under Wolf's leadership. Recent developments include strengthening the board of directors and reporting robust Q1 2025 financial results. With a market cap of $1.91 billion and institutional ownership at 70.37%, Pitney Bowes remains a significant player in the Integrated Freight & Logistics industry.
