James Arthur Fairweather Sells 130,000 Shares of Pitney Bowes Inc. (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) EVP James Arthur Fairweather sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the transaction, the executive vice president now owns 176,145 shares of the company’s stock, valued at approximately $1,907,650.35. This trade represents a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pitney Bowes Trading Up 0.4 %

Shares of NYSE PBI opened at $10.82 on Friday. The business has a fifty day simple moving average of $8.47 and a 200 day simple moving average of $7.70. Pitney Bowes Inc. has a one year low of $3.90 and a one year high of $11.01. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -9.66, a PEG ratio of 0.59 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 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%. On average, research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business 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 $0.06 dividend. This is a positive change 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 2.22%. Pitney Bowes’s dividend payout ratio is presently -21.43%.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System raised its position in Pitney Bowes by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 257,279 shares of the technology company’s stock valued at $1,834,000 after buying an additional 14,428 shares during the last quarter. Fiducient Advisors LLC bought a new position in shares of Pitney Bowes during the 3rd quarter worth approximately $143,000. James J. Burns & Company LLC bought a new position in shares of Pitney Bowes during the 3rd quarter worth approximately $121,000. Los Angeles Capital Management LLC bought a new position in shares of Pitney Bowes during the 3rd quarter worth approximately $1,395,000. Finally, GSA Capital Partners LLP lifted its holdings in Pitney Bowes by 94.8% during the 3rd quarter. GSA Capital Partners LLP now owns 89,352 shares of the technology company’s stock worth $637,000 after purchasing an additional 43,489 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.