Kurt James Wolf Sells 481,199 Shares of Pitney Bowes Inc. (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 481,199 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the sale, the director now directly owns 584,636 shares of the company’s stock, valued at approximately $6,296,529.72. This represents a 45.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, February 14th, Kurt James Wolf sold 78,285 shares of Pitney Bowes stock. The shares were sold at an average price of $10.66, for a total value of $834,518.10.
• On Wednesday, February 12th, Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00.

Pitney Bowes Stock Performance

NYSE:PBI opened at $10.05 on Thursday. The stock has a 50 day moving average price of $8.72 and a 200 day moving average price of $7.79. The stock has a market cap of $1.84 billion, a PE ratio of -8.97, a P/E/G ratio of 0.59 and a beta of 2.01. Pitney Bowes Inc. has a one year low of $3.90 and a one year high of $11.01.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. As a group, analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently announced 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 boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.39%. Pitney Bowes’s dividend payout ratio (DPR) is -21.43%.

Institutional Investors Weigh In On Pitney Bowes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBI. Hestia Capital Management LLC acquired a new stake in Pitney Bowes during the fourth quarter worth $114,326,000. Vanguard Group Inc. boosted its position in shares of Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock worth $153,217,000 after buying an additional 1,299,716 shares during the period. First Trust Advisors LP purchased a new position in shares of Pitney Bowes during the fourth quarter worth $6,245,000. Millennium Management LLC boosted its position in shares of Pitney Bowes by 103.0% during the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company’s stock worth $9,189,000 after buying an additional 644,002 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after buying an additional 624,878 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Monday.

Pitney Bowes Company Profile

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.