Pitney Bowes (NYSE:PBI) CEO Sells $944,609.51 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 55,861 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $16.91, for a total transaction of $944,609.51. Following the sale, the chief executive officer owned 246,395 shares of the company’s stock, valued at $4,166,539.45. This trade represents a 18.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, July 7th, Kurt James Wolf sold 316,280 shares of Pitney Bowes stock. The shares were sold at an average price of $17.10, for a total transaction of $5,408,388.00.
• 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 stock was sold at an average price of $16.93, for a total value 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 value 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 value 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 Price Performance

Shares of PBI stock traded up $0.28 during trading hours on Tuesday, hitting $17.09. 2,488,254 shares of the company’s stock were exchanged, compared to its average volume of 2,919,349. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $18.25. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.75 and a beta of 1.62. The stock’s 50-day moving average is $16.41 and its 200-day moving average is $12.79.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. 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 firm’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PBI shares. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Citizens Jmp upped their price objective on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a report on Friday, June 5th. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Bank of America upgraded 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 research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pitney Bowes presently has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Pitney Bowes by 133.1% during the 1st quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock valued at $478,000 after acquiring an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pitney Bowes by 5.6% in 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 purchasing an additional 5,149 shares during the period. United Services Automobile Association bought a new position in shares of Pitney Bowes in the 1st quarter worth $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Pitney Bowes by 18.2% during the first 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 purchasing an additional 72,437 shares during the period. Finally, Intech Investment Management LLC grew 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 during the period. 67.88% of the stock is owned by institutional investors.

About Pitney Bowes

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.