Insider Selling: Pitney Bowes (NYSE:PBI) CEO Sells $9,310,722.16 in Stock

by · The Cerbat Gem

Pitney Bowes Inc. (NYSE:PBIGet Free Report) CEO Kurt James Wolf sold 597,224 shares of Pitney Bowes stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $15.59, for a total transaction of $9,310,722.16. Following the completion of the transaction, the chief executive officer owned 398,878 shares of the company’s stock, valued at $6,218,508.02. The trade was a 59.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • 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 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.
  • On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The shares were sold at an average price of $11.14, for a total transaction of $444,697.66.
  • On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The shares were sold at an average price of $11.06, for a total transaction of $1,772,796.34.
  • On Wednesday, March 11th, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $10.38, for a total value of $1,557,000.00.
  • On Monday, February 23rd, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $10.30, for a total value of $1,545,000.00.

Pitney Bowes Stock Performance

Shares of NYSE PBI opened at $15.69 on Monday. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $15.95. The stock has a market cap of $2.12 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.99 and a beta of 1.64. The stock has a fifty day moving average of $11.94 and a 200-day moving average of $10.87.

Pitney Bowes (NYSE:PBIGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Pitney Bowes Inc. will post 1.61 EPS for the current year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes’s dividend payout ratio is presently 34.95%.

Key Pitney Bowes News

Here are the key news stories impacting Pitney Bowes this week:

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PBI shares. Truist Financial upped their target price on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday. The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a report on Friday. Citigroup restated an “outperform” rating on shares of Pitney Bowes in a research report on Friday, April 17th. Citizens Jmp upped their price target on shares of Pitney Bowes from $13.00 to $14.00 and gave the stock a “market outperform” rating in a report on Friday, April 17th. Finally, Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.30.

Get Our Latest Research Report on PBI

Institutional Inflows and Outflows

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

Pitney Bowes Company Profile

(Get Free Report)

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.

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