Pitney Bowes (NYSE:PBI) Stock: Insider Kurt James Wolf Sells 51,517 Shares

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt Wolf sold 51,517 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $17.45, for a total transaction of $898,971.65. Following the completion of the sale, the chief executive officer owned 86,684 shares in the company, valued at approximately $1,512,635.80. The trade was a 37.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 2nd, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $16.23, for a total transaction of $2,434,500.00.
• On Thursday, October 1st, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $16.16, for a total value of $2,424,000.00.
• On Thursday, September 17th, Kurt Wolf sold 23,887 shares of Pitney Bowes stock. The stock was sold at an average price of $17.43, for a total value of $416,350.41.
• On Wednesday, September 16th, Kurt Wolf sold 25,371 shares of Pitney Bowes stock. The stock was sold at an average price of $17.43, for a total value of $442,216.53.
• On Tuesday, September 15th, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $17.31, for a total value of $2,596,500.00.
• On Friday, August 28th, Kurt Wolf sold 397 shares of Pitney Bowes stock. The shares were sold at an average price of $17.42, for a total value of $6,915.74.
• On Thursday, August 27th, Kurt Wolf sold 1,920 shares of Pitney Bowes stock. The shares were sold at an average price of $17.42, for a total value of $33,446.40.

Pitney Bowes Price Performance

NYSE PBI opened at $15.50 on Wednesday. The stock has a market capitalization of $2.10 billion, a PE ratio of 9.11, a P/E/G ratio of 0.65 and a beta of 1.74. The business has a 50 day simple moving average of $16.91 and a two-hundred day simple moving average of $14.86. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $19.07.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $456.18 million for the quarter, compared to the consensus estimate of $458.24 million. Pitney Bowes had a negative return on equity of 30.45% and a net margin of 10.10%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. On average, analysts anticipate that Pitney Bowes Inc. will post 1.67 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, November 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.01. Pitney Bowes’s dividend payout ratio is currently 31.01%.

Institutional Trading of Pitney Bowes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Pitney Bowes during the second quarter valued at approximately $220,473,000. Bank of New York Mellon Corp bought a new position in shares of Pitney Bowes during the second quarter valued at approximately $28,683,000. Hsbc Holdings PLC bought a new position in shares of Pitney Bowes during the second quarter valued at approximately $27,762,000. Assenagon Asset Management S.A. raised its holdings in shares of Pitney Bowes by 3,481.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,309,845 shares of the technology company’s stock worth $21,377,000 after buying an additional 1,273,272 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in shares of Pitney Bowes in the first quarter worth approximately $12,950,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Pitney Bowes

Here are the key news stories impacting Pitney Bowes this week:

• Positive Sentiment: Pitney Bowes raised its quarterly dividend to $0.10 per share from $0.01, equivalent to $0.40 annually and a yield of about 2.5% at the cited share price.
• Neutral Sentiment: Sidoti revised its 2027 quarterly EPS estimates in opposite directions: it cut Q3 to $0.41 from $0.46, but raised Q4 to $0.44 from $0.42. The company’s latest reported quarter also beat EPS expectations ($0.42 versus $0.36), though revenue slightly missed estimates and declined year over year.
• Negative Sentiment: CEO Kurt Wolf disclosed sales of 51,517 shares on Oct. 29 and 150,000 shares on Nov. 2. The large transactions—and the resulting reduction in his reported holdings—could concern investors about insider confidence. Insider-sale report

Wall Street Analysts Forecast Growth

PBI has been the topic of several research reports. Citizens Jmp boosted their price target on shares of Pitney Bowes from $19.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of Pitney Bowes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 27th. Wall Street Zen cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Zacks Research cut shares of Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Truist Financial boosted their target price on shares of Pitney Bowes from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.45.

About Pitney Bowes

Pitney Bowes Inc (NYSE:PBI) is a global technology and services company that helps businesses manage mailing, shipping and related communications. Its offerings include postage meters, mailing systems, shipping software, parcel management tools, address and data services, and equipment financing and support.

The company serves small businesses, large enterprises and government organizations through solutions designed to streamline the preparation, processing and delivery of physical mail and packages.