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

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

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 stock was 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 shares were 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 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 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 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 stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38.

Pitney Bowes Price Performance

NYSE:PBI opened at $17.09 on Wednesday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.25. The company has a market cap of $2.31 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.75 and a beta of 1.62. The firm’s fifty day moving average price is $16.44 and its two-hundred day moving average price is $12.84.

Pitney Bowes (NYSE:PBI) last posted 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 company had revenue of $477.41 million during 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%. Pitney Bowes’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, equities research analysts expect 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. Shareholders of record on Monday, May 18th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio is currently 38.83%.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently added to or reduced their stakes in PBI. Longview Financial Advisors Inc. acquired a new position in Pitney Bowes in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in shares of Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,015 shares during the period. Hantz Financial Services Inc. increased its position in shares of Pitney Bowes by 190.9% in the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after purchasing an additional 2,459 shares during the period. UMB Bank n.a. raised its stake in Pitney Bowes by 404.6% in 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 in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Pitney Bowes in the second quarter valued at about $51,000. Institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

PBI has been the topic of several research reports. Citizens Jmp upped their target price on Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a research report on Friday, June 5th. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a report on Friday, May 8th. Finally, Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $9.50 to $16.50 in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.43.

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.