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 business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the sale, the director now owns 584,636 shares in the company, valued at approximately $6,296,529.72. This trade represents a 45.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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 transaction of $834,518.10.
• 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 transaction of $12,075,000.00.

Pitney Bowes Trading Down 2.5 %

Pitney Bowes stock opened at $9.79 on Friday. Pitney Bowes Inc. has a 12 month low of $3.90 and a 12 month high of $11.01. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -8.74, a price-to-earnings-growth ratio of 0.59 and a beta of 2.01. The business’s fifty day simple moving average is $8.77 and its two-hundred day simple moving average is $7.80.

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

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be issued 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 dividend on an annualized basis and a dividend yield of 2.45%. Pitney Bowes’s dividend payout ratio is presently -21.43%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently added to or reduced their stakes in the company. Hestia Capital Management LLC bought a new stake in shares of Pitney Bowes in the 4th quarter worth $114,326,000. Assenagon Asset Management S.A. boosted its position in shares of Pitney Bowes by 47.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after buying an additional 586,249 shares during the last quarter. Algert Global LLC boosted its position in shares of Pitney Bowes by 76.9% during the third quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock valued at $2,459,000 after buying an additional 149,944 shares during the last quarter. FMR LLC raised its position in Pitney Bowes by 3,308.0% in the 3rd quarter. FMR LLC now owns 320,152 shares of the technology company’s stock worth $2,283,000 after buying an additional 310,758 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after acquiring an additional 624,878 shares during the period. 67.88% of the stock is currently owned by hedge funds and other 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.