Kurt James Wolf Sells 150,000 Shares of Pitney Bowes (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 150,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 251,422 shares of the company’s stock, valued at approximately $4,231,432.26. This represents a 37.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $17.10, for a total value of $5,408,388.00.
• 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 Friday, June 12th, Kurt James Wolf sold 322,829 shares of Pitney Bowes stock. The shares were 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 shares were sold at an average price of $17.02, for a total value of $3,589,024.42.
• On Wednesday, June 10th, Kurt James Wolf sold 281,117 shares of Pitney Bowes stock. The stock was 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 shares were 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 1.3%

Shares of PBI stock opened at $17.27 on Thursday. The stock has a fifty day moving average of $16.47 and a 200 day moving average of $12.89. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $18.25. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.76 and a beta of 1.62.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 8.92% and a negative return on equity of 33.41%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Equities research analysts anticipate that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pitney Bowes’s payout ratio is presently 38.83%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America raised shares of 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 note on Monday, May 11th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Citizens Jmp increased their target price on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Friday, June 5th. Finally, Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday, June 16th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.