Pitney Bowes (NYSE:PBI) Stock: Insider Kurt James Wolf Sells 150,000 Shares

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt Wolf sold 150,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $16.23, for a total value of $2,434,500.00. Following the completion of the transaction, the chief executive officer owned 73,184 shares of the company’s stock, valued at $1,187,776.32. This represents a 67.21% decrease in their ownership of the stock. The transaction 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 Thursday, October 29th, Kurt Wolf sold 51,517 shares of Pitney Bowes stock. The shares were sold at an average price of $17.45, for a total value of $898,971.65.
• On Thursday, October 1st, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.16, for a total value of $2,424,000.00.
• On Thursday, September 17th, Kurt Wolf sold 23,887 shares of Pitney Bowes stock. The stock was sold at an average price of $17.43, for a total value of $416,350.41.
• On Wednesday, September 16th, Kurt Wolf sold 25,371 shares of Pitney Bowes stock. The shares were sold at an average price of $17.43, for a total value of $442,216.53.
• On Tuesday, September 15th, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $17.31, for a total transaction of $2,596,500.00.
• On Friday, August 28th, Kurt Wolf sold 397 shares of Pitney Bowes stock. The shares were sold at an average price of $17.42, for a total transaction of $6,915.74.
• On Thursday, August 27th, Kurt Wolf sold 1,920 shares of Pitney Bowes stock. The stock was sold at an average price of $17.42, for a total transaction of $33,446.40.

Pitney Bowes Price Performance

NYSE:PBI opened at $15.50 on Wednesday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $19.07. The company has a market cap of $2.10 billion, a PE ratio of 9.11, a P/E/G ratio of 0.65 and a beta of 1.74. The firm’s 50 day simple moving average is $16.91 and its 200 day simple moving average is $14.86.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $456.18 million during the quarter, compared to analysts’ expectations of $458.24 million. Pitney Bowes had a net margin of 10.10% and a negative return on equity of 30.45%. The company’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. Equities research analysts expect that Pitney Bowes Inc. will post 1.67 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 16th will be paid a $0.10 dividend. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.01. This represents a $0.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 16th. Pitney Bowes’s payout ratio is presently 31.01%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a research report on Friday, July 31st. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Sunday. Weiss Ratings lowered Pitney Bowes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 27th. Citizens Jmp increased their price target on Pitney Bowes from $19.00 to $22.00 and gave the company a “market outperform” rating in a research note on Friday, July 31st. Finally, Truist Financial increased their price target on Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.45.

Pitney Bowes News Roundup

Here are the key news stories impacting Pitney Bowes this week:

• Positive Sentiment: Pitney Bowes raised its quarterly dividend to $0.10 per share from $0.01, equivalent to $0.40 annually and a yield of about 2.5% at the cited share price.
• Neutral Sentiment: Sidoti revised its 2027 quarterly EPS estimates in opposite directions: it cut Q3 to $0.41 from $0.46, but raised Q4 to $0.44 from $0.42. The company’s latest reported quarter also beat EPS expectations ($0.42 versus $0.36), though revenue slightly missed estimates and declined year over year.
• Negative Sentiment: CEO Kurt Wolf disclosed sales of 51,517 shares on Oct. 29 and 150,000 shares on Nov. 2. The large transactions—and the resulting reduction in his reported holdings—could concern investors about insider confidence. Insider-sale report

Institutional Investors Weigh In On Pitney Bowes

Several large investors have recently modified their holdings of PBI. BlackRock Inc. bought a new stake in Pitney Bowes during the second quarter valued at $220,473,000. Capital Management Corp VA raised its position in shares of Pitney Bowes by 0.5% in the 3rd quarter. Capital Management Corp VA now owns 2,404,924 shares of the technology company’s stock worth $39,248,000 after acquiring an additional 11,351 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Pitney Bowes in the 2nd quarter worth about $28,683,000. Hsbc Holdings PLC bought a new position in shares of Pitney Bowes in the 2nd quarter worth about $27,762,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Pitney Bowes by 9.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,331,315 shares of the technology company’s stock worth $25,760,000 after acquiring an additional 193,145 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE:PBI) is a global technology and services company that helps businesses manage mailing, shipping and related communications. Its offerings include postage meters, mailing systems, shipping software, parcel management tools, address and data services, and equipment financing and support.

The company serves small businesses, large enterprises and government organizations through solutions designed to streamline the preparation, processing and delivery of physical mail and packages.