Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. trimmed its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 33.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,550 shares of the technology company's stock after selling 28,000 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in Pitney Bowes were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Pitney Bowes by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 788,203 shares of the technology company's stock valued at $7,133,000 after buying an additional 19,830 shares during the period. KBC Group NV purchased a new stake in Pitney Bowes during the first quarter worth approximately $65,000. Cambridge Investment Research Advisors Inc. increased its position in Pitney Bowes by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company's stock worth $547,000 after buying an additional 4,866 shares during the period. PFG Investments LLC increased its position in Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after buying an additional 1,644 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pitney Bowes by 42.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,683 shares of the technology company's stock valued at $232,000 after purchasing an additional 7,683 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Down 0.7%

Shares of Pitney Bowes stock traded down $0.08 during trading on Wednesday, reaching $10.95. The company's stock had a trading volume of 2,234,731 shares, compared to its average volume of 2,141,414. Pitney Bowes Inc. has a 12-month low of $5.58 and a 12-month high of $11.65. The company has a market capitalization of $2.00 billion, a P/E ratio of -12.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.60. The business has a 50 day moving average price of $10.16 and a 200-day moving average price of $9.19.

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 for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 31.61% and a negative net margin of 7.18%. The firm had revenue of $493.42 million for the quarter, compared to the consensus estimate of $498.99 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.56%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date was Monday, May 19th. Pitney Bowes's payout ratio is presently -30.77%.

Analyst Upgrades and Downgrades

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

Pitney Bowes Company 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.