Pitney Bowes (NYSE:PBI) CEO Kurt James Wolf Sells 40,476 Shares

Key Points

• CEO Kurt James Wolf sold 40,476 Pitney Bowes shares on May 22 at an average price of $15.62, for proceeds of about $632,235. After the sale, he still directly owned 360,210 shares.
• Pitney Bowes reported solid quarterly results, matching EPS estimates at $0.47 and topping revenue expectations with $477.41 million, though revenue still declined 3.2% year over year.
• The stock has risen sharply and analysts are cautiously more positive: shares traded around $15.48, near the 52-week high of $16.56, while several firms raised ratings or price targets and the consensus view is now “Moderate Buy.”

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt James Wolf sold 40,476 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $15.62, for a total value of $632,235.12. Following the completion of the transaction, the chief executive officer directly owned 360,210 shares of the company's stock, valued at $5,626,480.20. The trade was a 10.10% decrease in their ownership of the stock. The sale 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 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 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 stock was 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 stock was 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 transaction of $1,557,000.00.

Pitney Bowes Stock Up 1.5%

Shares of PBI stock traded up $0.23 during mid-day trading on Tuesday, hitting $15.48. 2,372,770 shares of the stock were exchanged, compared to its average volume of 2,888,599. The firm has a fifty day moving average of $13.13 and a 200 day moving average of $11.25. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $16.56. The company has a market cap of $2.10 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.64.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $471.83 million. During the same period in the prior year, the company posted $0.33 EPS. The company's revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 18th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Pitney Bowes's dividend payout ratio (DPR) is currently 38.83%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PBI. Zacks Research raised shares of Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Truist Financial lifted their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. Citizens Jmp lifted their price target on shares of Pitney Bowes from $13.00 to $14.00 and gave the company a "market outperform" rating in a research note on Friday, April 17th. Weiss Ratings raised shares of Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Finally, Bank of America raised Pitney Bowes from an "underperform" rating to a "neutral" rating and increased their target price for the company from $9.50 to $16.50 in a report on Monday, May 11th. One investment 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.18.

Hedge Funds Weigh In On Pitney Bowes

Institutional investors have recently added to or reduced their stakes in the stock. Longview Financial Advisors Inc. purchased a new position in Pitney Bowes during the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in Pitney Bowes by 41.3% in the 2nd 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. increased its holdings 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 valued at $40,000 after purchasing an additional 2,459 shares during the last quarter. UMB Bank n.a. increased its stake in Pitney Bowes by 404.6% during the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock worth $43,000 after purchasing an additional 3,225 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Pitney Bowes during the second quarter worth about $51,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

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.

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