Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf Sells 78,285 Shares

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 78,285 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the transaction, the director now directly owns 606,289 shares of the company’s stock, valued at $6,463,040.74. This trade represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, February 12th, Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00.

Pitney Bowes Stock Up 0.3 %

Shares of NYSE PBI opened at $10.55 on Friday. The stock has a fifty day moving average price of $7.94 and a two-hundred day moving average price of $7.41. Pitney Bowes Inc. has a 1 year low of $3.73 and a 1 year high of $10.81.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, research analysts expect that Pitney Bowes Inc. will post 0.4 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.06 per share. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, February 21st. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Hedge Funds Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Pitney Bowes during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC boosted its stake in shares of Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after acquiring an additional 2,873 shares in the last quarter. Quarry LP boosted its stake in shares of Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after acquiring an additional 7,478 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Pitney Bowes during the 3rd quarter worth $86,000. Finally, AQR Capital Management LLC bought a new stake in shares of Pitney Bowes during the 2nd quarter worth $97,000. 67.88% of the stock is owned by institutional investors.

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.