Kurt James Wolf Sells 316,280 Shares of Pitney Bowes (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 316,280 shares of Pitney Bowes stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $17.10, for a total value of $5,408,388.00. Following the transaction, the chief executive officer owned 217,930 shares in the company, valued at approximately $3,726,603. This trade represents a 59.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, July 6th, Kurt James Wolf sold 55,861 shares of Pitney Bowes stock. The shares were sold at an average price of $16.91, for a total value of $944,609.51.
• On Thursday, July 2nd, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.83, for a total value of $2,524,500.00.
• 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 value of $5,617,224.60.
• On Thursday, June 11th, Kurt James Wolf sold 210,871 shares of Pitney Bowes stock. The stock was 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 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 stock was 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 shares were 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.

Pitney Bowes Stock Performance

NYSE PBI opened at $17.27 on Thursday. Pitney Bowes Inc. has a 1 year low of $8.95 and a 1 year high of $18.25. The business’s fifty day moving average is $16.47 and its two-hundred day moving average is $12.89. The stock has a market capitalization of $2.34 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.76 and a beta of 1.62.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. On average, research analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

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

Wall Street Analysts Forecast Growth

PBI has been the topic of several recent analyst reports. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a research report on Tuesday, June 16th. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Longview Financial Advisors Inc. purchased a new stake in Pitney Bowes in the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in 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 acquiring an additional 1,015 shares during the period. Hantz Financial Services Inc. grew its stake in Pitney Bowes by 190.9% during the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock valued at $40,000 after acquiring an additional 2,459 shares in the last quarter. UMB Bank n.a. grew its stake in Pitney Bowes by 404.6% during the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock valued at $43,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Pitney Bowes in the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.