Insider Buying: Pitney Bowes (NYSE:PBI) Director Buys 2,000 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI) Director Brent Rosenthal bought 2,000 shares of Pitney Bowes stock in a transaction on Tuesday, November 25th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $20,000.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $50,000. The trade was a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Pitney Bowes Stock Up 1.9%

Shares of PBI stock traded up $0.19 during trading hours on Tuesday, hitting $9.91. 2,147,460 shares of the company’s stock traded hands, compared to its average volume of 2,711,139. The stock has a market cap of $1.59 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27. The stock’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $10.93. Pitney Bowes Inc. has a 12 month low of $6.88 and a 12 month high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $459.68 million during the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a net margin of 4.14% and a negative return on equity of 40.31%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, equities research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes announced that its board has approved a share buyback plan on Wednesday, July 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 10th will be given a $0.09 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, November 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.6%. Pitney Bowes’s dividend payout ratio is presently 80.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $98,000. Cetera Investment Advisers grew its position in Pitney Bowes by 45.7% in the 1st quarter. Cetera Investment Advisers now owns 65,508 shares of the technology company’s stock valued at $593,000 after purchasing an additional 20,536 shares during the period. HB Wealth Management LLC bought a new stake in Pitney Bowes during the 1st quarter valued at $279,000. LPL Financial LLC increased its position in shares of Pitney Bowes by 50.4% during the first quarter. LPL Financial LLC now owns 351,233 shares of the technology company’s stock worth $3,179,000 after acquiring an additional 117,636 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Pitney Bowes by 19.5% in the first quarter. Mackenzie Financial Corp now owns 80,753 shares of the technology company’s stock worth $731,000 after purchasing an additional 13,195 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 target price for the company. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Pitney Bowes currently has a consensus rating of “Hold” and an average price target of $11.00.

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.