Pitney Bowes (NYSE:PBI) CEO Sells 316,280 Shares

Key Points

• Pitney Bowes CEO Kurt James Wolf sold 316,280 shares on July 7 at an average price of $17.10, totaling about $5.4 million. After the sale, he still owned 217,930 shares, and the trade reduced his position by 59.21%.
• The CEO has been actively selling shares in multiple recent transactions, including sizable sales on July 6, July 2, and throughout June and May. The repeated insider selling may draw investor attention.
• Pitney Bowes stock rose 1.7% to $17.09 and is trading near its 52-week high of $18.25. The company recently reported quarterly EPS in line with estimates and also cut its dividend to $0.01 per share quarterly.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt James Wolf sold 316,280 shares of Pitney Bowes stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $17.10, for a total transaction of $5,408,388.00. Following the completion of the transaction, the chief executive officer owned 217,930 shares in the company, valued at approximately $3,726,603. The trade was a 59.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

Pitney Bowes Stock Up 1.7%

Shares of Pitney Bowes stock traded up $0.28 on Tuesday, hitting $17.09. The stock had a trading volume of 2,488,254 shares, compared to its average volume of 2,919,349. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $18.25. The stock's 50-day simple moving average is $16.41 and its two-hundred day simple moving average is $12.79. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.75 and a beta of 1.62.

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

Pitney Bowes Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, May 18th. Pitney Bowes's dividend payout ratio is currently 38.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Longview Financial Advisors Inc. bought a new stake in Pitney Bowes in the first quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in shares of Pitney Bowes by 41.3% in the 2nd 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 last quarter. Hantz Financial Services Inc. raised its position in shares of 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 purchasing an additional 2,459 shares during the last quarter. UMB Bank n.a. boosted 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 purchasing an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Pitney Bowes during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Analyst Ratings Changes

PBI has been the topic of a number of research analyst reports. Wall Street Zen upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Truist Financial lifted their price objective on Pitney Bowes from $11.00 to $15.00 and gave the stock a "hold" rating in a research report on Thursday, May 7th. 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 report on Friday, June 5th. Weiss Ratings raised Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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