Pitney Bowes (NYSE:PBI) CEO Sells $3,589,024.42 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 210,871 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $17.02, for a total transaction of $3,589,024.42. Following the sale, the chief executive officer owned 293,977 shares in the company, valued at approximately $5,003,488.54. The trade was a 41.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 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 shares were 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 stock was 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.
• On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The stock was sold at an average price of $11.14, for a total transaction of $444,697.66.
• On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The shares were sold at an average price of $11.06, for a total transaction of $1,772,796.34.

Pitney Bowes Trading Up 0.9%

Pitney Bowes stock traded up $0.16 during trading on Friday, reaching $17.30. The company had a trading volume of 2,985,341 shares, compared to its average volume of 2,858,893. The firm’s 50-day simple moving average is $14.68 and its 200 day simple moving average is $11.91. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 0.76 and a beta of 1.63. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $17.59.

Pitney Bowes (NYSE:PBI) last released its 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 company had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. Pitney Bowes’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. On average, analysts predict that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PBI shares. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Citigroup reissued an “outperform” rating on shares of Pitney Bowes in a report on Friday, June 5th. Citizens Jmp boosted their price target on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a report on Friday, June 5th. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a report on Friday, May 8th. One 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, Pitney Bowes currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.43.

Institutional Trading of Pitney Bowes

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in Pitney Bowes by 39.5% in the 1st quarter. Bank of America Corp DE now owns 326,865 shares of the technology company’s stock valued at $3,612,000 after acquiring an additional 92,607 shares during the last quarter. Kentucky Retirement Systems bought a new stake in Pitney Bowes in the 1st quarter valued at $184,000. Amundi increased its holdings in Pitney Bowes by 20.8% in the 1st quarter. Amundi now owns 34,318 shares of the technology company’s stock valued at $379,000 after acquiring an additional 5,898 shares during the last quarter. California State Teachers Retirement System increased its holdings in Pitney Bowes by 29.7% in the 1st quarter. California State Teachers Retirement System now owns 202,484 shares of the technology company’s stock valued at $2,237,000 after acquiring an additional 46,371 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Pitney Bowes by 28.1% in the 1st quarter. Royal Bank of Canada now owns 75,807 shares of the technology company’s stock valued at $837,000 after acquiring an additional 16,623 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

About Pitney Bowes

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.