Insider Selling: Pitney Bowes Inc. (NYSE:PBI) EVP Sells 130,000 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI) EVP James Arthur Fairweather sold 130,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the completion of the sale, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This trade represents a 42.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Pitney Bowes Stock Performance

NYSE PBI traded down $0.10 on Thursday, hitting $10.77. 2,260,703 shares of the stock traded hands, compared to its average volume of 2,585,660. The business’s fifty day moving average is $8.40 and its two-hundred day moving average is $7.67. Pitney Bowes Inc. has a 12 month low of $3.76 and a 12 month high of $11.01. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 0.59 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results 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 return on equity of 20.95% and a negative net margin of 7.71%. Analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a $0.06 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. This represents a $0.24 annualized dividend and a dividend yield of 2.23%. Pitney Bowes’s dividend payout ratio (DPR) is presently -21.43%.

Institutional Trading of Pitney Bowes

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System grew its stake in Pitney Bowes by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 257,279 shares of the technology company’s stock valued at $1,834,000 after buying an additional 14,428 shares in the last quarter. Fiducient Advisors LLC bought a new position in shares of Pitney Bowes in the third quarter worth $143,000. James J. Burns & Company LLC purchased a new position in shares of Pitney Bowes in the third quarter valued at $121,000. Los Angeles Capital Management LLC bought a new stake in shares of Pitney Bowes during the 3rd quarter valued at $1,395,000. Finally, GSA Capital Partners LLP lifted its holdings in Pitney Bowes by 94.8% during the 3rd quarter. GSA Capital Partners LLP now owns 89,352 shares of the technology company’s stock worth $637,000 after purchasing an additional 43,489 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Company Profile

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.