Pitney Bowes (NYSE:PBI) CEO Kurt James Wolf Sells 51,517 Shares of Company Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt Wolf sold 51,517 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $17.45, for a total value of $898,971.65. Following the sale, the chief executive officer owned 86,684 shares in the company, valued at approximately $1,512,635.80. The trade was a 37.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 2nd, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.23, for a total value of $2,434,500.00.
• 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 stock was sold at an average price of $17.43, for a total transaction of $442,216.53.
• On Tuesday, September 15th, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was 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 value 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 value of $33,446.40.

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock traded down $0.16 during trading hours on Monday, reaching $16.15. The company’s stock had a trading volume of 1,786,883 shares, compared to its average volume of 1,594,590. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.70 and a beta of 1.66. The stock’s fifty day simple moving average is $16.93 and its two-hundred day simple moving average is $14.83. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $19.07.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Pitney Bowes had a negative return on equity of 30.30% and a net margin of 10.10%. The business had revenue of $456.18 million during the quarter, compared to analyst estimates of $458.24 million. During the same period in the prior year, the firm posted $0.31 EPS. Pitney Bowes’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts forecast that Pitney Bowes Inc. will post 1.67 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, November 16th. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.01. Pitney Bowes’s dividend payout ratio (DPR) is 31.01%.

Institutional Investors Weigh In On Pitney Bowes

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Pitney Bowes in the second quarter worth $220,473,000. Bank of New York Mellon Corp bought a new stake in shares of Pitney Bowes during the 2nd quarter valued at $28,683,000. Hsbc Holdings PLC purchased a new stake in Pitney Bowes during the 2nd quarter worth about $27,762,000. Assenagon Asset Management S.A. lifted its holdings in Pitney Bowes by 3,481.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,309,845 shares of the technology company’s stock worth $21,377,000 after purchasing an additional 1,273,272 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in Pitney Bowes in the 1st quarter worth about $12,950,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PBI. Truist Financial upped their price objective on Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Weiss Ratings downgraded Pitney Bowes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 27th. Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research note on Friday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.30 price target on shares of Pitney Bowes in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.45.

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.