Kurt James Wolf Sells 1,250,000 Shares of Pitney Bowes Inc. (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the sale, the director now directly owns 622,250 shares of the company’s stock, valued at approximately $6,010,935. This trade represents a 66.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kurt James Wolf also recently made the following trade(s):

• On Friday, February 14th, Kurt James Wolf sold 78,285 shares of Pitney Bowes stock. The shares were sold at an average price of $10.66, for a total value of $834,518.10.

Pitney Bowes Price Performance

NYSE:PBI opened at $10.55 on Friday. Pitney Bowes Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $10.81. The business has a 50 day moving average price of $7.94 and a 200-day moving average price of $7.41.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. As a group, research analysts forecast that Pitney Bowes Inc. will post 0.4 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 dividend on an annualized basis and a yield of 2.28%. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Institutional Trading of Pitney Bowes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. James J. Burns & Company LLC lifted its stake in Pitney Bowes by 9.7% in the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,637 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Pitney Bowes by 11.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock worth $130,000 after acquiring an additional 1,878 shares during the period. First Citizens Bank & Trust Co. lifted its stake in Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after acquiring an additional 2,020 shares during the period. Federated Hermes Inc. lifted its stake in Pitney Bowes by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company’s stock worth $740,000 after acquiring an additional 2,711 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after acquiring an additional 2,873 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.