Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf Sells 481,199 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 481,199 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the sale, the director now owns 584,636 shares in the company, valued at $6,296,529.72. The trade was a 45.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, February 14th, Kurt James Wolf sold 78,285 shares of Pitney Bowes stock. The stock was sold at an average price of $10.66, for a total value of $834,518.10.
• On Wednesday, February 12th, Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00.

Pitney Bowes Trading Up 0.7 %

Shares of PBI stock opened at $10.05 on Thursday. The company has a market capitalization of $1.84 billion, a P/E ratio of -8.97, a P/E/G ratio of 0.59 and a beta of 2.01. The business’s 50 day moving average is $8.72 and its two-hundred day moving average is $7.79. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. On average, research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.39%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio is currently -21.43%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Monday.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in Pitney Bowes during the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its position in shares of Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,873 shares in the last quarter. Quarry LP lifted its position in shares of Pitney Bowes by 889.2% in the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after acquiring an additional 7,478 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Pitney Bowes in the third quarter valued at approximately $86,000. Finally, Xponance Inc. lifted its position in shares of Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock valued at $103,000 after acquiring an additional 3,837 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.