Pitney Bowes (NYSE:PBI) CEO Kurt James Wolf Sells 55,861 Shares

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 55,861 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $16.91, for a total value of $944,609.51. Following the transaction, the chief executive officer directly owned 246,395 shares of the company’s stock, valued at $4,166,539.45. This represents a 18.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 shares were sold at an average price of $17.10, for a total value of $5,408,388.00.
• 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 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 transaction 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 transaction 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 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 shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38.

Pitney Bowes Stock Up 1.7%

NYSE PBI traded up $0.28 during midday trading on Tuesday, hitting $17.09. The company had a trading volume of 2,488,254 shares, compared to its average volume of 2,919,349. The firm has a fifty day simple moving average of $16.41 and a two-hundred day simple moving average of $12.79. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $18.25. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.75 and a beta of 1.62.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The business had revenue of $477.41 million during the quarter, compared to analyst estimates of $471.83 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The company 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. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pitney Bowes’s dividend payout ratio is 38.83%.

Institutional Investors Weigh In On Pitney Bowes

Large investors have recently modified their holdings of the stock. Baron Wealth Management LLC acquired a new position in shares of Pitney Bowes in the 2nd quarter worth approximately $176,000. Pacer Advisors Inc. acquired a new stake in Pitney Bowes in the 1st quarter valued at $12,950,000. Bank of America Corp DE boosted its stake in Pitney Bowes by 39.5% in the 1st quarter. Bank of America Corp DE now owns 326,865 shares of the technology company’s stock valued at $3,612,000 after buying an additional 92,607 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Pitney Bowes in the first quarter valued at $184,000. Finally, Amundi grew its position in Pitney Bowes by 20.8% in the first quarter. Amundi now owns 34,318 shares of the technology company’s stock valued at $379,000 after acquiring an additional 5,898 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PBI. Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a report on Tuesday, June 16th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Bank of America raised 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 research report on Monday, May 11th. Truist Financial lifted their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. One 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, Pitney Bowes currently has an average rating of “Moderate Buy” and an average price target 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.