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 firm’s stock in a transaction on Thursday, July 2nd. The stock was 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 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 transaction was disclosed in a document filed with the SEC, 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 transaction 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 transaction of $944,609.51.
• On Friday, June 12th, Kurt James Wolf sold 322,829 shares of Pitney Bowes stock. The stock was 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 value 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 shares were sold at an average price of $14.58, for a total value of $14,092,459.38.

Pitney Bowes Stock Up 1.7%

PBI stock traded up $0.28 on Tuesday, reaching $17.09. 2,488,254 shares of the company’s stock were exchanged, compared to its average volume of 2,919,349. The stock has a fifty day moving average of $16.41 and a 200-day moving average of $12.79. The firm has a market cap of $2.31 billion, a PE ratio of 16.59, a P/E/G 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 released its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.Pitney Bowes’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities research analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

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

Hedge Funds Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Longview Financial Advisors Inc. purchased a new stake in shares of Pitney Bowes in the first quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,015 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Pitney Bowes by 190.9% during the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after purchasing an additional 2,459 shares during the last quarter. UMB Bank n.a. raised its position in shares of Pitney Bowes by 404.6% during the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock worth $43,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Pitney Bowes in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research report on Friday, May 8th. Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday, June 16th. Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Citizens Jmp raised their price objective on Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a research note on Friday, June 5th. Finally, Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.43.

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.