Pitney Bowes (NYSE:PBI) CEO Kurt James Wolf Sells 55,861 Shares

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 55,861 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $16.91, for a total transaction of $944,609.51. Following the completion of the transaction, the chief executive officer owned 246,395 shares of the company’s stock, valued at $4,166,539.45. This represents a 18.48% decrease in their position. 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 stock was sold at an average price of $17.10, for a total transaction of $5,408,388.00.
• On Thursday, July 2nd, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.83, for a total transaction of $2,524,500.00.
• 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 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 value 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 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

PBI opened at $17.09 on Wednesday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.75 and a beta of 1.62. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.25. The business’s fifty day moving average is $16.44 and its two-hundred day moving average is $12.84.

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

Pitney Bowes Cuts Dividend

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

Hedge Funds Weigh In On Pitney Bowes

Large investors have recently added to or reduced their stakes in the business. Evanson Financial LLC purchased a new stake in Pitney Bowes in the 2nd quarter valued at about $200,000. Baron Wealth Management LLC acquired a new stake in shares of Pitney Bowes in the second quarter worth approximately $176,000. Pacer Advisors Inc. purchased a new stake in Pitney Bowes in the first quarter valued at approximately $12,950,000. Bank of America Corp DE grew its holdings in Pitney Bowes by 39.5% in the first quarter. Bank of America Corp DE now owns 326,865 shares of the technology company’s stock valued at $3,612,000 after purchasing an additional 92,607 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in Pitney Bowes in the first quarter valued at approximately $184,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PBI. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a report on Friday, May 8th. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Finally, Citizens Jmp upped their price objective on Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pitney Bowes presently has an average rating of “Moderate Buy” and a consensus 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.