Insider Selling: Pitney Bowes Inc. (NYSE:PBI) Director Sells 78,285 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 78,285 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the transaction, the director now directly owns 606,289 shares in the company, valued at approximately $6,463,040.74. This represents a 11.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 Up 0.3 %

PBI stock opened at $10.55 on Friday. The stock’s fifty day simple moving average is $7.94 and its two-hundred day simple moving average is $7.42. Pitney Bowes Inc. has a 1-year low of $3.73 and a 1-year high of $10.81. The stock has a market cap of $1.92 billion, a P/E ratio of -4.84, a P/E/G ratio of 0.52 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. As a group, analysts forecast that Pitney Bowes Inc. will post 0.4 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 2.28%. Pitney Bowes’s payout ratio is presently -9.17%.

Institutional Trading of Pitney Bowes

Several hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Pitney Bowes during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC raised its stake in shares of Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after purchasing an additional 2,873 shares during the period. Quarry LP raised its stake in shares of Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after purchasing an additional 7,478 shares during the period. Truvestments Capital LLC bought a new stake in shares of Pitney Bowes during the 3rd quarter valued at $86,000. Finally, Xponance Inc. raised its stake in shares of Pitney Bowes by 36.7% during the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock valued at $103,000 after purchasing an additional 3,837 shares during the period. 67.88% of the stock is currently owned by institutional investors.

About Pitney Bowes

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.