Pekin Hardy Strauss Inc. Has $494,000 Stake in Pitney Bowes Inc. (NYSE:PBI)

Pekin Hardy Strauss Inc. lessened its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 33.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.

Other hedge funds also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in 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 period. American Assets Inc. raised its holdings in Pitney Bowes by 80.6% during the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock worth $941,000 after buying an additional 58,000 shares during the period. Man Group plc raised its holdings in Pitney Bowes by 76.1% during the 4th quarter. Man Group plc now owns 101,142 shares of the technology company's stock worth $732,000 after buying an additional 43,694 shares during the period. GAMMA Investing LLC raised its holdings in Pitney Bowes by 1,030.5% during the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company's stock worth $278,000 after buying an additional 27,999 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Pitney Bowes by 8.8% during the 1st 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. Institutional investors own 67.88% of the company's stock.

Analyst Upgrades and Downgrades

PBI has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a report on Monday, May 5th.

Pitney Bowes Trading Down 0.7%

Shares of NYSE PBI traded down $0.08 during midday trading on Friday, reaching $11.00. The company's stock had a trading volume of 3,376,257 shares, compared to its average volume of 2,145,478. Pitney Bowes Inc. has a fifty-two week low of $5.58 and a fifty-two week high of $11.65. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -12.09, a PEG ratio of 0.59 and a beta of 1.60. The stock has a 50 day simple moving average of $10.24 and a 200-day simple moving average of $9.25.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The company had revenue of $493.42 million for the quarter, compared to the consensus estimate of $498.99 million. During the same period last year, the company earned ($0.01) earnings per share. The firm's revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.55%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, May 19th. Pitney Bowes's payout ratio is presently -30.77%.

About Pitney Bowes

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.