Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf Sells 1,250,000 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 1,250,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the completion of the sale, the director now directly owns 622,250 shares in the company, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 transaction of $834,518.10.

Pitney Bowes Stock Performance

PBI stock opened at $10.55 on Friday. The company’s 50 day moving average is $7.94 and its 200 day moving average is $7.41. Pitney Bowes Inc. has a 1-year low of $3.73 and a 1-year high of $10.81.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Research analysts forecast that Pitney Bowes Inc. will post 0.4 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.28%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. Pitney Bowes’s dividend payout ratio is -9.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in Pitney Bowes during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its position in Pitney Bowes by 130.3% during 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 during the last quarter. Quarry LP grew its position in Pitney Bowes by 889.2% during 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 during the last quarter. Truvestments Capital LLC bought a new position in Pitney Bowes during the third quarter valued at approximately $86,000. Finally, AQR Capital Management LLC bought a new position in Pitney Bowes during the second quarter valued at approximately $97,000. 67.88% of the stock is currently owned by institutional investors.

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.