Key Points
- Pitney Bowes CEO Kurt James Wolf sold 40,476 shares on May 22 at an average price of $15.62, totaling about $632,235. After the sale, he still held 360,210 shares.
- The CEO has been actively reducing his stake, with several large sales earlier in May and April that together amounted to millions of dollars in stock sold.
- Pitney Bowes recently beat revenue expectations and met EPS estimates for the quarter, while analysts currently have a Moderate Buy consensus rating and an average price target of $15.18.
Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt James Wolf sold 40,476 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $15.62, for a total value of $632,235.12. Following the completion of the transaction, the chief executive officer owned 360,210 shares in the company, valued at $5,626,480.20. The trade was a 10.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Kurt James Wolf also recently made the following trade(s):
- On Friday, May 8th, Kurt James Wolf sold 389,161 shares of Pitney Bowes stock. The shares were sold at an average price of $15.69, for a total value of $6,105,936.09.
- On Thursday, May 7th, Kurt James Wolf sold 597,224 shares of Pitney Bowes stock. The shares were sold at an average price of $15.59, for a total value of $9,310,722.16.
- On Wednesday, May 6th, Kurt James Wolf sold 966,561 shares of Pitney Bowes stock. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38.
- On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The shares were sold at an average price of $11.14, for a total value of $444,697.66.
- On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The shares were sold at an average price of $11.06, for a total value of $1,772,796.34.
- On Wednesday, March 11th, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $10.38, for a total value of $1,557,000.00.
Pitney Bowes Stock Performance
Shares of PBI opened at $15.48 on Wednesday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.68 and a beta of 1.64. The business's fifty day moving average price is $13.23 and its two-hundred day moving average price is $11.29. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $16.56.
Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47. The firm had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. As a group, research analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current year.
Pitney Bowes Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Pitney Bowes's dividend payout ratio is 38.83%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on PBI. Weiss Ratings raised Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Zacks Research raised Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Truist Financial increased their price target on Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. Bank of America raised Pitney Bowes from an "underperform" rating to a "neutral" rating and increased their price target for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Finally, Citizens Jmp increased their price target on Pitney Bowes from $13.00 to $14.00 and gave the company a "market outperform" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Pitney Bowes has a consensus rating of "Moderate Buy" and an average price target of $15.18.
Get Our Latest Research Report on Pitney Bowes
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Longview Financial Advisors Inc. bought a new position in Pitney Bowes during the first quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its holdings in Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after acquiring an additional 1,015 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Pitney Bowes by 190.9% during the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock worth $40,000 after acquiring an additional 2,459 shares in the last quarter. UMB Bank n.a. lifted its holdings in Pitney Bowes by 404.6% during the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock worth $43,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Pitney Bowes during the second quarter worth about $51,000. 67.88% of the stock is currently owned by institutional investors.
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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