Insider Selling: Pitney Bowes (NYSE:PBI) CEO Sells $5,408,388.00 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 316,280 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $17.10, for a total value of $5,408,388.00. Following the completion of the sale, the chief executive officer owned 217,930 shares in the company, valued at approximately $3,726,603. The trade was a 59.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kurt James Wolf also recently made the following trade(s):

• On Monday, July 6th, Kurt James Wolf sold 55,861 shares of Pitney Bowes stock. The shares were sold at an average price of $16.91, for a total transaction of $944,609.51.
• On Thursday, July 2nd, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.83, for a total transaction of $2,524,500.00.
• On Friday, June 12th, Kurt James Wolf sold 322,829 shares of Pitney Bowes stock. The stock was sold at an average price of $17.40, for a total transaction of $5,617,224.60.
• On Thursday, June 11th, Kurt James Wolf sold 210,871 shares of Pitney Bowes stock. The shares were sold at an average price of $17.02, for a total transaction of $3,589,024.42.
• On Wednesday, June 10th, Kurt James Wolf sold 281,117 shares of Pitney Bowes stock. The shares were sold at an average price of $16.93, for a total transaction of $4,759,310.81.
• On Friday, May 22nd, Kurt James Wolf sold 40,476 shares of Pitney Bowes stock. The stock was sold at an average price of $15.62, for a total transaction of $632,235.12.
• On Friday, May 8th, Kurt James Wolf sold 389,161 shares of Pitney Bowes stock. The shares were sold at an average price of $15.69, for a total transaction of $6,105,936.09.
• On Thursday, May 7th, Kurt James Wolf sold 597,224 shares of Pitney Bowes stock. The shares were sold at an average price of $15.59, for a total value of $9,310,722.16.
• On Wednesday, May 6th, Kurt James Wolf sold 966,561 shares of Pitney Bowes stock. The stock was sold at an average price of $14.58, for a total value of $14,092,459.38.

Pitney Bowes Stock Up 2.1%

Shares of NYSE PBI opened at $17.67 on Friday. Pitney Bowes Inc. has a twelve month low of $8.95 and a twelve month high of $18.25. The firm has a market cap of $2.39 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.78 and a beta of 1.62. The business has a fifty day simple moving average of $16.51 and a two-hundred day simple moving average of $12.94.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business had revenue of $477.41 million for the quarter, compared to the consensus estimate of $471.83 million. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is 38.83%.

Institutional Trading of Pitney Bowes

Several large investors have recently added to or reduced their stakes in PBI. Royal Bank of Canada boosted its position in Pitney Bowes by 133.1% in the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock valued at $478,000 after buying an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pitney Bowes by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company’s stock valued at $882,000 after acquiring an additional 5,149 shares during the period. United Services Automobile Association purchased a new stake in shares of Pitney Bowes in the first quarter valued at approximately $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Pitney Bowes by 18.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company’s stock worth $4,258,000 after acquiring an additional 72,437 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Pitney Bowes by 15.5% during the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company’s stock worth $1,768,000 after purchasing an additional 26,260 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PBI has been the subject of several recent research reports. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a research report on Tuesday, June 16th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Finally, Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.