Pitney Bowes (NYSE:PBI) CEO Sells $632,235.12 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 40,476 shares of Pitney Bowes stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $15.62, for a total transaction of $632,235.12. Following the completion of the transaction, the chief executive officer owned 360,210 shares of the company’s stock, valued at $5,626,480.20. This represents a 10.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, May 8th, Kurt James Wolf sold 389,161 shares of Pitney Bowes stock. The stock was 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 stock was 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 shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38.
• On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The shares were sold at an average price of $11.14, for a total transaction of $444,697.66.
• On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The stock was sold at an average price of $11.06, for a total value of $1,772,796.34.
• On Wednesday, March 11th, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $10.38, for a total value of $1,557,000.00.

Pitney Bowes Price Performance

Shares of NYSE:PBI traded up $0.23 on Tuesday, reaching $15.48. The company’s stock had a trading volume of 2,372,770 shares, compared to its average volume of 2,888,599. The stock’s 50-day moving average is $13.13 and its two-hundred day moving average is $11.25. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $16.56. The stock has a market capitalization of $2.10 billion, a P/E ratio of 15.03, a PEG ratio of 0.68 and a beta of 1.64.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The firm had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. During the same period last year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes’s payout ratio is currently 38.83%.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Pitney Bowes by 133.1% during the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock worth $478,000 after acquiring an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Pitney Bowes by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company’s stock worth $882,000 after acquiring an additional 5,149 shares during the last quarter. United Services Automobile Association purchased a new stake in Pitney Bowes in the 1st quarter valued at about $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Pitney Bowes by 18.2% during 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 buying an additional 72,437 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Pitney Bowes by 15.5% during the 1st quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company’s stock worth $1,768,000 after buying an additional 26,260 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PBI shares. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $9.50 to $16.50 in a report on Monday, May 11th. Weiss Ratings raised shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Citigroup reaffirmed an “outperform” rating on shares of Pitney Bowes in a research note on Friday, April 17th. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Truist Financial upped their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Pitney Bowes has a consensus rating of “Moderate Buy” and a consensus target price of $15.18.

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.