Pitney Bowes (NYSE:PBI) CEO Sells $2,424,000.00 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt Wolf sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $16.16, for a total value of $2,424,000.00. Following the sale, the chief executive officer owned 91,321 shares in the company, valued at $1,475,747.36. The trade was a 62.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, September 17th, Kurt Wolf sold 23,887 shares of Pitney Bowes stock. The shares were sold at an average price of $17.43, for a total transaction of $416,350.41.
• On Wednesday, September 16th, Kurt Wolf sold 25,371 shares of Pitney Bowes stock. The shares were sold at an average price of $17.43, for a total value of $442,216.53.
• On Tuesday, September 15th, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $17.31, for a total transaction of $2,596,500.00.
• On Friday, August 28th, Kurt Wolf sold 397 shares of Pitney Bowes stock. The shares were sold at an average price of $17.42, for a total transaction of $6,915.74.
• On Thursday, August 27th, Kurt Wolf sold 1,920 shares of Pitney Bowes stock. The stock was sold at an average price of $17.42, for a total transaction of $33,446.40.
• On Monday, August 3rd, Kurt Wolf sold 413,266 shares of Pitney Bowes stock. The stock was sold at an average price of $18.11, for a total transaction of $7,484,247.26.
• On Friday, July 31st, Kurt Wolf sold 211,483 shares of Pitney Bowes stock. The shares were sold at an average price of $17.53, for a total transaction of $3,707,296.99.
• On Thursday, July 30th, Kurt Wolf sold 430,443 shares of Pitney Bowes stock. The stock was sold at an average price of $18.23, for a total value of $7,846,975.89.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $16.79 on Friday. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.07. The stock has a market capitalization of $2.30 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.68 and a beta of 1.66. The business has a 50-day moving average of $16.91 and a two-hundred day moving average of $16.02.

Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, July 29th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The firm had revenue of $451.50 million during the quarter, compared to analyst estimates of $453.94 million. Pitney Bowes had a net margin of 10.04% and a negative return on equity of 31.37%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. As a group, research analysts expect that Pitney Bowes Inc. will post 1.68 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes’s dividend payout ratio is 32.79%.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Pitney Bowes in the 2nd quarter valued at $220,473,000. Bank of New York Mellon Corp acquired a new position in shares of Pitney Bowes during the 2nd quarter worth $28,683,000. Hsbc Holdings PLC bought a new stake in shares of Pitney Bowes during the 2nd quarter worth $27,762,000. Dimensional Fund Advisors LP grew its position in Pitney Bowes by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,331,315 shares of the technology company’s stock valued at $25,760,000 after acquiring an additional 193,145 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Pitney Bowes in the first quarter worth about $16,403,000. 67.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PBI has been the topic of several research reports. Citizens Jmp upped their price target on Pitney Bowes from $19.00 to $22.00 and gave the company a “market outperform” rating in a research note on Friday, July 31st. Zacks Research cut Pitney Bowes from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Truist Financial increased their price target on shares of Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $17.30 price objective on shares of Pitney Bowes in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.45.

About Pitney Bowes

Pitney Bowes Inc (NYSE:PBI) is a technology, mailing and shipping services company that helps businesses manage physical and digital communications, postage and parcel delivery. Its offerings include postage meters, mailing systems, shipping software, parcel lockers and related supplies, financing and support services.

The company’s products are designed for organizations ranging from small businesses to large enterprises and government agencies. Its SendPro platform integrates postage purchasing, carrier selection, shipping labels, tracking and reporting, while Pitney Bowes also provides solutions for mailroom operations, document management and transactional communications.

Founded in 1920 by Arthur Pitney and Walter Bowes, the company initially became known for its postage-meter technology, which helped automate the mailing process.