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 Pitney Bowes stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $16.91, for a total value of $944,609.51. Following the completion of the sale, the chief executive officer owned 246,395 shares in the company, valued at approximately $4,166,539.45. This represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 value 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 value of $2,524,500.00.
• On Friday, June 12th, Kurt James Wolf sold 322,829 shares of Pitney Bowes stock. The shares were 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 transaction of $4,759,310.81.
• On Friday, May 22nd, Kurt James Wolf sold 40,476 shares of Pitney Bowes stock. The shares were sold at an average price of $15.62, for a total transaction 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 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 value of $14,092,459.38.

Pitney Bowes Trading Up 2.1%

PBI opened at $17.67 on Friday. The stock has a fifty day simple moving average of $16.51 and a two-hundred day simple moving average of $12.94. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.78 and a beta of 1.62. Pitney Bowes Inc. has a 12-month low of $8.95 and a 12-month high of $18.25.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

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

Institutional Investors Weigh In On Pitney Bowes

Several institutional investors and hedge funds have recently made changes to their positions in PBI. Royal Bank of Canada boosted its stake in 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 purchasing an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $882,000 after purchasing an additional 5,149 shares in the last quarter. United Services Automobile Association bought a new position in shares of Pitney Bowes during the first quarter valued at $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 valued at $4,258,000 after buying an additional 72,437 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position 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 valued at $1,768,000 after buying an additional 26,260 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PBI. The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research note on Friday, May 8th. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Truist Financial raised their price objective on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.43.

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.