Pitney Bowes Inc. (NYSE:PBI) EVP Lauren Freemen-Bosworth Sells 42,308 Shares

Pitney Bowes Inc. (NYSE:PBI) EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pitney Bowes Stock Down 1.6 %

PBI opened at $7.78 on Friday. The company has a market capitalization of $1.41 billion, a PE ratio of -3.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.97. The firm has a 50-day simple moving average of $7.40 and a two-hundred day simple moving average of $6.62. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $499.46 million during the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.57%. Pitney Bowes’s dividend payout ratio is currently -9.17%.

Institutional Investors Weigh In On Pitney Bowes

Several large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new stake in shares of Pitney Bowes in the 1st quarter valued at approximately $764,000. Assenagon Asset Management S.A. purchased a new stake in Pitney Bowes during the 2nd quarter valued at $208,000. Algert Global LLC lifted its position in Pitney Bowes by 76.9% in the third quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock worth $2,459,000 after buying an additional 149,944 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Pitney Bowes during the third quarter worth $3,442,000. Finally, American Assets Inc. bought a new position in Pitney Bowes during the third quarter valued at $513,000. 67.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.