Key Points
- CEO Kurt James Wolf sold 389,161 Pitney Bowes shares on May 8 for about $6.1 million, cutting his ownership by more than half.
- Pitney Bowes recently reported Q1 earnings of $0.47 per share, matching analyst expectations, while revenue of $477.4 million came in above forecasts but was still down 3.2% year over year.
- The company also announced a very small quarterly dividend of $0.01 per share, implying an annual yield of about 0.3%, while Wall Street currently rates the stock a Hold on average.
Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt James Wolf sold 389,161 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $15.69, for a total value of $6,105,936.09. Following the sale, the chief executive officer owned 363,853 shares of the company's stock, valued at approximately $5,708,853.57. The trade was a 51.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Kurt James Wolf also recently made the following trade(s):
- On Thursday, May 7th, Kurt James Wolf sold 597,224 shares of Pitney Bowes stock. The stock was sold at an average price of $15.59, for a total transaction of $9,310,722.16.
- On Wednesday, May 6th, Kurt James Wolf sold 966,561 shares of Pitney Bowes stock. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38.
- On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The stock was sold at an average price of $11.14, for a total transaction of $444,697.66.
- On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The stock was sold at an average price of $11.06, for a total transaction of $1,772,796.34.
- On Wednesday, March 11th, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $10.38, for a total transaction of $1,557,000.00.
- On Monday, February 23rd, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $10.30, for a total transaction of $1,545,000.00.
Pitney Bowes Trading Up 0.7%
Shares of Pitney Bowes stock opened at $15.69 on Friday. The company has a fifty day moving average price of $11.94 and a 200 day moving average price of $10.87. Pitney Bowes Inc. has a twelve month low of $8.95 and a twelve month high of $15.95. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 0.98 and a beta of 1.64.
Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million during the quarter, compared to analysts' expectations of $471.83 million. During the same period in the prior year, the company earned $0.33 EPS. The firm's revenue was down 3.2% on a year-over-year basis. Analysts forecast that Pitney Bowes Inc. will post 1.6 earnings per share for the current year.
Pitney Bowes Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes's dividend payout ratio is presently 34.95%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Weiss Ratings cut shares of Pitney Bowes from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. Citigroup reissued an "outperform" rating on shares of Pitney Bowes in a research report on Friday, April 17th. Bank of America assumed coverage on shares of Pitney Bowes in a research report on Tuesday, February 17th. They issued an "underperform" rating and a $9.00 price objective for the company. Zacks Research cut shares of Pitney Bowes from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 19th. Finally, Truist Financial upped their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Thursday. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pitney Bowes currently has an average rating of "Hold" and an average price target of $13.30.
View Our Latest Stock Report on PBI
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Institutional Investors Weigh In On Pitney Bowes
A number of institutional investors have recently modified their holdings of PBI. Longview Financial Advisors Inc. acquired a new stake in shares of Pitney Bowes in the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock valued at $38,000 after purchasing an additional 1,015 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock valued at $40,000 after purchasing an additional 2,459 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Pitney Bowes by 404.6% in the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock valued at $43,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Pitney Bowes in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 67.88% of the company's stock.
About Pitney Bowes
(
Get Free Report)
Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.
The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.
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