195,598 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 195,598 shares of the technology company's stock, valued at approximately $1,395,000. Los Angeles Capital Management LLC owned approximately 0.11% of Pitney Bowes at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. James J. Burns & Company LLC bought a new position in shares of Pitney Bowes during the third quarter valued at $121,000. Fiducient Advisors LLC bought a new position in Pitney Bowes during the 3rd quarter valued at about $143,000. New York State Teachers Retirement System lifted its stake in Pitney Bowes by 5.9% during the 3rd quarter. New York State Teachers Retirement System now owns 257,279 shares of the technology company's stock valued at $1,834,000 after acquiring an additional 14,428 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Pitney Bowes by 2,894.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company's stock worth $8,760,000 after acquiring an additional 1,187,531 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Pitney Bowes during the third quarter valued at approximately $519,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Trading Down 0.4 %

Shares of Pitney Bowes stock traded down $0.03 during trading hours on Friday, reaching $7.23. 812,147 shares of the stock traded hands, compared to its average volume of 1,755,525. The company has a 50 day moving average price of $7.08 and a 200 day moving average price of $6.32. Pitney Bowes Inc. has a one year low of $3.68 and a one year high of $8.80.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The business had revenue of $499.46 million during the quarter, compared to analysts' expectations of $467.80 million. Analysts predict that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes's payout ratio is -9.17%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 21st.

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.