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

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 150,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were 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 in the company, valued at $4,231,432.26. This represents a 37.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $5,408,388.00.
• On Monday, July 6th, Kurt James Wolf sold 55,861 shares of Pitney Bowes stock. The stock was sold at an average price of $16.91, for a total value 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 transaction 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 transaction of $3,589,024.42.
• On Wednesday, June 10th, Kurt James Wolf sold 281,117 shares of Pitney Bowes stock. The stock was 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 shares were sold at an average price of $15.69, for a total transaction of $6,105,936.09.
• On Thursday, May 7th, Kurt James Wolf sold 597,224 shares of Pitney Bowes stock. The shares were sold at an average price of $15.59, for a total transaction of $9,310,722.16.
• On Wednesday, May 6th, Kurt James Wolf sold 966,561 shares of Pitney Bowes stock. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38.

Pitney Bowes Price Performance

PBI traded up $0.28 during trading on Tuesday, hitting $17.09. The company’s stock had a trading volume of 2,488,254 shares, compared to its average volume of 2,919,349. The firm’s 50 day moving average price is $16.41 and its 200-day moving average price is $12.79. The stock has a market cap of $2.31 billion, a PE ratio of 16.59, a PEG ratio of 0.75 and a beta of 1.62. Pitney Bowes Inc. has a twelve month low of $8.95 and a twelve month high of $18.25.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) 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 business had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were given a dividend of $0.01 per share. The ex-dividend date was Monday, May 18th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pitney Bowes’s dividend payout ratio is 38.83%.

Institutional Investors Weigh In On Pitney Bowes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Management Corp VA increased its position in Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after purchasing an additional 592,568 shares in the last quarter. TABR Capital Management LLC acquired a new position in Pitney Bowes during the fourth quarter valued at approximately $807,000. WINTON GROUP Ltd lifted its position in Pitney Bowes by 3,377.0% during the third quarter. WINTON GROUP Ltd now owns 473,223 shares of the technology company’s stock valued at $5,399,000 after buying an additional 459,613 shares in the last quarter. Solidarity Wealth LLC purchased a new stake in Pitney Bowes during the fourth quarter worth approximately $6,236,000. Finally, Cannell & Spears LLC increased its position in shares of Pitney Bowes by 89.5% in the third quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock worth $38,389,000 after acquiring an additional 1,588,579 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a report on Tuesday, June 16th. The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research report on Friday, May 8th. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Truist Financial upped their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Citizens Jmp increased their price target on shares of Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Pitney Bowes Company Profile

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.