Kurt James Wolf Sells 322,829 Shares of Pitney Bowes (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 322,829 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.40, for a total transaction of $5,617,224.60. Following the completion of the transaction, the chief executive officer owned 264,922 shares of the company’s stock, valued at approximately $4,609,642.80. This trade represents a 54.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 shares were 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 transaction 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 transaction 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 shares were sold at an average price of $11.06, for a total transaction of $1,772,796.34.

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded up $0.16 during trading on Friday, reaching $17.30. The stock had a trading volume of 2,985,341 shares, compared to its average volume of 2,858,893. The firm’s fifty day moving average is $14.68 and its 200 day moving average is $11.91. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $17.59. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 0.76 and a beta of 1.63.

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

Pitney Bowes Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in shares of Pitney Bowes by 133.1% in the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock valued at $478,000 after buying an additional 30,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pitney Bowes by 5.6% in 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 buying an additional 5,149 shares in the last quarter. United Services Automobile Association bought a new position in shares of Pitney Bowes in the first quarter valued at $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Pitney Bowes by 18.2% in 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 in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Pitney Bowes by 15.5% in 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 in the last quarter. 67.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Citigroup reaffirmed an “outperform” rating on shares of Pitney Bowes in a research note on Friday, June 5th. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.43.

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.