Insider Selling: Pitney Bowes (NYSE:PBI) CEO Sells $2,524,500.00 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $16.83, for a total value of $2,524,500.00. Following the completion of the sale, the chief executive officer owned 251,422 shares of the company’s stock, valued at $4,231,432.26. The trade was a 37.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $5,408,388.00.
• On Monday, July 6th, Kurt James Wolf sold 55,861 shares of Pitney Bowes stock. The shares were sold at an average price of $16.91, for a total transaction of $944,609.51.
• 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 value 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 value 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 stock was 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 stock was 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 transaction of $14,092,459.38.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $17.67 on Friday. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $18.25. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.78 and a beta of 1.62. The stock’s 50 day simple moving average is $16.51 and its two-hundred day simple moving average is $12.94.

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

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were given 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 payout ratio is currently 38.83%.

Wall Street Analysts Forecast Growth

PBI has been the topic of a number of recent analyst reports. Citizens Jmp increased their price target on shares of Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Friday, June 5th. The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a research note on Friday, May 8th. Weiss Ratings raised shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Finally, Truist Financial increased their price target on Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Pitney Bowes presently has an average rating of “Moderate Buy” and a consensus target price of $16.43.

Institutional Trading of Pitney Bowes

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,015 shares during the last quarter. Advisory Services Network LLC increased its stake in Pitney Bowes by 2.4% in the third quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company’s stock worth $604,000 after purchasing an additional 1,234 shares during the period. Baird Financial Group Inc. lifted its holdings in Pitney Bowes by 12.5% during the 2nd quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock valued at $144,000 after buying an additional 1,459 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Pitney Bowes by 3.0% during the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company’s stock valued at $690,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Creative Planning raised its position in Pitney Bowes by 13.5% during the 3rd quarter. Creative Planning now owns 18,402 shares of the technology company’s stock valued at $210,000 after purchasing an additional 2,188 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

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.