Pitney Bowes Inc. (NYSE:PBI) Director Sells $5,182,513.23 in Stock

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 481,199 shares of Pitney Bowes stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the completion of the transaction, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. This trade represents a 45.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, February 14th, Kurt James Wolf sold 78,285 shares of Pitney Bowes stock. The shares were sold at an average price of $10.66, for a total value of $834,518.10.
• On Wednesday, February 12th, Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00.

Pitney Bowes Trading Down 2.6 %

Shares of Pitney Bowes stock opened at $9.52 on Friday. The firm’s 50 day moving average is $8.81 and its 200 day moving average is $7.82. The firm has a market capitalization of $1.74 billion, a PE ratio of -8.50, a price-to-earnings-growth ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a 1 year low of $3.90 and a 1 year high of $11.01.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $0.06 per share. The ex-dividend date is Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s payout ratio is currently -21.43%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Hedge Funds Weigh In On Pitney Bowes

Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in shares of Pitney Bowes during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its holdings in Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after acquiring an additional 2,873 shares during the last quarter. Quarry LP grew its holdings in Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after acquiring an additional 7,478 shares during the last quarter. Truvestments Capital LLC acquired a new position in Pitney Bowes in the 3rd quarter valued at approximately $86,000. Finally, Xponance Inc. raised its stake in shares of Pitney Bowes by 36.7% during the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock valued at $103,000 after acquiring an additional 3,837 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.