Pitney Bowes (NYSE:PBI) CEO Kurt James Wolf Sells 40,476 Shares

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 40,476 shares of Pitney Bowes stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $15.62, for a total value of $632,235.12. Following the sale, the chief executive officer owned 360,210 shares of the company’s stock, valued at approximately $5,626,480.20. This represents a 10.10% 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 hyperlink.

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

• 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 stock was 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.
• 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 value 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 value of $1,772,796.34.
• On Wednesday, March 11th, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $10.38, for a total value of $1,557,000.00.

Pitney Bowes Stock Up 1.5%

Pitney Bowes stock opened at $15.48 on Wednesday. The business has a 50 day moving average price of $13.23 and a two-hundred day moving average price of $11.29. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.64. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $16.56.

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

Pitney Bowes Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, May 18th. Pitney Bowes’s dividend payout ratio is currently 38.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citizens Jmp upped their price objective on Pitney Bowes from $13.00 to $14.00 and gave the company a “market outperform” rating in a research note on Friday, April 17th. Truist Financial upped their price objective on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $9.50 to $16.50 in a research report on Monday, May 11th. Finally, Citigroup restated an “outperform” rating on shares of Pitney Bowes in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Pitney Bowes currently has an average rating of “Moderate Buy” and a consensus target price of $15.18.

Institutional Investors Weigh In On Pitney Bowes

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

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.