Key Points
- Pitney Bowes CEO Kurt James Wolf sold 210,871 shares on June 11 at an average price of $17.02, totaling about $3.59 million. The sale reduced his holdings by 41.77%.
- Wolf has been actively trimming his stake with several additional large sales around the same period, including transactions on June 10 and June 12. The article highlights these repeated insider sales as a potential cautionary signal for investors.
- The stock has rallied sharply despite the insider selling, opening at $17.30 and nearing its 52-week high of $17.59. Pitney Bowes also reported quarterly EPS in line with expectations and has received a mix of analyst upgrades, including a Bank of America move to neutral.
Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt James Wolf sold 210,871 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $17.02, for a total transaction of $3,589,024.42. Following the completion of the sale, the chief executive officer owned 293,977 shares of the company's stock, valued at approximately $5,003,488.54. The trade was a 41.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Kurt James Wolf also recently made the following trade(s):
- On Friday, June 12th, Kurt James Wolf sold 322,829 shares of Pitney Bowes stock. The shares were sold at an average price of $17.40, for a total transaction of $5,617,224.60.
- On Wednesday, June 10th, Kurt James Wolf sold 281,117 shares of Pitney Bowes stock. The shares were sold at an average price of $16.93, for a total transaction of $4,759,310.81.
- On Friday, May 22nd, Kurt James Wolf sold 40,476 shares of Pitney Bowes stock. The shares were sold at an average price of $15.62, for a total transaction of $632,235.12.
- 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 transaction of $6,105,936.09.
- 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.
Pitney Bowes Stock Up 0.9%
Shares of PBI opened at $17.30 on Friday. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 0.77 and a beta of 1.63. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $17.59. The company has a 50-day moving average price of $14.80 and a two-hundred day moving average price of $11.95.
Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. The firm had revenue of $477.41 million during the quarter, compared to analysts' expectations of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Equities research analysts expect that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.
Pitney Bowes Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes's dividend payout ratio (DPR) is currently 38.83%.
Pitney Bowes News Roundup
Here are the key news stories impacting Pitney Bowes this week:
- Positive Sentiment: Zacks added Pitney Bowes to its Rank #1 (Strong Buy) growth stocks list, which can draw momentum and value investors looking for improving earnings estimates and growth prospects. Best Growth Stocks to Buy for June 11th
- Positive Sentiment: Zacks highlighted momentum in Pitney Bowes’ shipping software business, citing rising subscriptions, stronger bookings, and banking-based services as potential long-term growth drivers. Will Shipping Software Become Pitney Bowes' Next Growth Engine?
- Neutral Sentiment: A Zacks piece asked whether value investors should buy PBI, but it did not include a clear rating change or major new catalyst. Should Value Investors Buy Pitney Bowes (PBI) Stock?
- Negative Sentiment: CEO Kurt James Wolf disclosed multiple large stock sales over June 10-12, reducing his ownership substantially; investors often view heavy insider selling as a cautionary signal. SEC filing
Analyst Ratings Changes
A number of research analysts have recently issued reports on PBI shares. Weiss Ratings upgraded shares of Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Citigroup reiterated an "outperform" rating on shares of Pitney Bowes in a research note on Friday, June 5th. Finally, The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Pitney Bowes presently has an average rating of "Moderate Buy" and a consensus target price of $16.43.
Get Our Latest Stock Report on PBI
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock valued at $38,000 after acquiring an additional 1,015 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Pitney Bowes by 2.4% in the third quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company's stock valued at $604,000 after purchasing an additional 1,234 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Pitney Bowes by 12.5% in the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company's stock valued at $144,000 after purchasing an additional 1,459 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Pitney Bowes by 17.6% in the third quarter. Stratos Wealth Partners LTD. now owns 11,993 shares of the technology company's stock valued at $137,000 after purchasing an additional 1,799 shares in the last quarter. Finally, HB Wealth Management LLC increased its holdings in shares of Pitney Bowes by 3.0% in the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company's stock valued at $690,000 after purchasing an additional 1,807 shares in the last quarter. Institutional investors own 67.88% of the company's stock.
Pitney Bowes Company Profile
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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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