Pitney Bowes Inc. (NYSE:PBI) Holdings Decreased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 13.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 342,310 shares of the technology company's stock after selling 53,700 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.19% of Pitney Bowes worth $3,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Trail Ridge Investment Advisors LLC acquired a new stake in shares of Pitney Bowes in the first quarter valued at about $267,000. Bank of America Corp DE raised its stake in shares of Pitney Bowes by 43.0% during the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after buying an additional 280,402 shares during the last quarter. American Assets Inc. grew its position in shares of Pitney Bowes by 80.6% in the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock valued at $941,000 after purchasing an additional 58,000 shares during the last quarter. Man Group plc raised its holdings in shares of Pitney Bowes by 76.1% in the fourth quarter. Man Group plc now owns 101,142 shares of the technology company's stock worth $732,000 after acquiring an additional 43,694 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Pitney Bowes by 1,030.5% in the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company's stock worth $278,000 after acquiring an additional 27,999 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Up 0.8%

Shares of PBI traded up $0.10 during trading on Thursday, reaching $11.80. The company's stock had a trading volume of 1,633,312 shares, compared to its average volume of 2,164,085. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -12.96, a P/E/G ratio of 0.62 and a beta of 1.60. The company has a fifty day moving average of $10.41 and a two-hundred day moving average of $9.34. Pitney Bowes Inc. has a twelve month low of $5.58 and a twelve month high of $12.55.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $493.42 million for the quarter, compared to analysts' expectations of $498.99 million. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The firm's quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, equities analysts forecast 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 Friday, June 6th. Investors of record on Monday, May 19th were issued a $0.07 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Monday, May 19th. Pitney Bowes's payout ratio is currently -30.77%.

Insider Transactions at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares in the company, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PBI. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a "hold" rating in a research note on Monday, May 5th.

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.