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

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 150,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $16.83, for a total transaction of $2,524,500.00. Following the completion of the sale, the chief executive officer directly owned 251,422 shares of the company’s stock, valued at $4,231,432.26. This trade represents a 37.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was 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 transaction of $5,617,224.60.
• On Thursday, June 11th, Kurt James Wolf sold 210,871 shares of Pitney Bowes stock. The stock was 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 value 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 value of $14,092,459.38.

Pitney Bowes Stock Performance

NYSE:PBI opened at $17.09 on Wednesday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.25. The business’s 50-day simple moving average is $16.44 and its 200 day simple moving average is $12.84. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.75 and a beta of 1.62.

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

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were paid 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 was Monday, May 18th. Pitney Bowes’s payout ratio is 38.83%.

Hedge Funds Weigh In On Pitney Bowes

Several large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Pitney Bowes by 3.1% in the second quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock worth $69,455,000 after purchasing an additional 188,886 shares during the period. LSV Asset Management grew its position in shares of Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after buying an additional 2,986,689 shares during the last quarter. Cannell & Spears LLC grew its position in shares of Pitney Bowes by 89.5% during the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after buying an additional 1,588,579 shares during the last quarter. Permit Capital LLC raised its stake in Pitney Bowes by 14.0% during the fourth quarter. Permit Capital LLC now owns 3,250,000 shares of the technology company’s stock worth $34,352,000 after acquiring an additional 400,000 shares during the period. Finally, Capital Management Corp VA raised its stake in Pitney Bowes by 25.3% during the fourth quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after acquiring an additional 592,568 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial increased their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Citizens Jmp boosted their target price on shares of Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Friday, June 5th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their target price for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Finally, Citigroup reiterated a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pitney Bowes presently has an average rating of “Moderate Buy” and an average target price 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.