Pitney Bowes (NYSE:PBI) Shares Down 4.2% After Insider Selling

Pitney Bowes Inc. (NYSE:PBI)’s stock price dropped 4.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $8.92 and last traded at $8.86. Approximately 679,045 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,949,301 shares. The stock had previously closed at $9.24.

Specifically, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. This represents a 22.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Pitney Bowes Stock Down 0.7 %

The company has a fifty day moving average of $7.67 and a two-hundred day moving average of $7.22. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -4.07, a P/E/G ratio of 0.45 and a beta of 2.00.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data 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 firm had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. Equities analysts anticipate that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is -9.17%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hestia Capital Management LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at about $114,326,000. Assenagon Asset Management S.A. grew its position 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 valued at $8,760,000 after purchasing an additional 1,187,531 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after purchasing an additional 624,878 shares in the last quarter. Marshall Wace LLP raised its position in shares of Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 503,378 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new stake in Pitney Bowes in the 3rd quarter valued at approximately $3,470,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.