Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt Wolf sold 51,517 shares of the firm's stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $17.45, for a total value of $898,971.65. Following the completion of the transaction, the chief executive officer directly owned 86,684 shares in the company, valued at $1,512,635.80. This trade represents a 37.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kurt James Wolf also recently made the following trade(s):
- On Monday, November 2nd, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.23, for a total value of $2,434,500.00.
- On Thursday, October 1st, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The stock was sold at an average price of $16.16, for a total value of $2,424,000.00.
- On Thursday, September 17th, Kurt Wolf sold 23,887 shares of Pitney Bowes stock. The shares were sold at an average price of $17.43, for a total value of $416,350.41.
- On Wednesday, September 16th, Kurt Wolf sold 25,371 shares of Pitney Bowes stock. The shares were sold at an average price of $17.43, for a total value of $442,216.53.
- On Tuesday, September 15th, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $17.31, for a total value of $2,596,500.00.
- On Friday, August 28th, Kurt Wolf sold 397 shares of Pitney Bowes stock. The stock was sold at an average price of $17.42, for a total value of $6,915.74.
- On Thursday, August 27th, Kurt Wolf sold 1,920 shares of Pitney Bowes stock. The stock was sold at an average price of $17.42, for a total value of $33,446.40.
Pitney Bowes Stock Down 1.0%
NYSE PBI opened at $16.15 on Tuesday. The stock has a market cap of $2.21 billion, a PE ratio of 9.85, a P/E/G ratio of 0.70 and a beta of 1.66. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.07. The business has a 50 day moving average price of $16.93 and a two-hundred day moving average price of $14.83.
Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $456.18 million during the quarter, compared to the consensus estimate of $458.24 million. Pitney Bowes had a net margin of 10.10% and a negative return on equity of 30.30%. Pitney Bowes's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Sell-side analysts anticipate that Pitney Bowes Inc. will post 1.67 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. This is a boost from Pitney Bowes's previous quarterly dividend of $0.01. The ex-dividend date is Monday, November 16th. Pitney Bowes's payout ratio is currently 31.01%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on PBI shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $17.30 price target on shares of Pitney Bowes in a report on Thursday, July 30th. Zacks Research lowered shares of Pitney Bowes from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Truist Financial raised their target price on Pitney Bowes from $15.00 to $18.00 and gave the company a "hold" rating in a research note on Friday, July 31st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Pitney Bowes in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.45.
Get Our Latest Analysis on Pitney Bowes
Hedge Funds Weigh In On Pitney Bowes
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Pitney Bowes in the 2nd quarter valued at about $220,473,000. Bank of New York Mellon Corp bought a new position in Pitney Bowes in the 2nd quarter worth approximately $28,683,000. Hsbc Holdings PLC acquired a new position in shares of Pitney Bowes during the second quarter valued at $27,762,000. Assenagon Asset Management S.A. raised its position in shares of Pitney Bowes by 3,481.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,309,845 shares of the technology company's stock worth $21,377,000 after buying an additional 1,273,272 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Pitney Bowes during the first quarter worth approximately $12,950,000. 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 a global technology and services company that helps businesses manage mailing, shipping and related communications. Its offerings include postage meters, mailing systems, shipping software, parcel management tools, address and data services, and equipment financing and support.
The company serves small businesses, large enterprises and government organizations through solutions designed to streamline the preparation, processing and delivery of physical mail and packages.
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