Pitney Bowes Inc. (NYSE:PBI – Get Free Report) CEO Kurt Wolf sold 150,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $17.31, for a total value of $2,596,500.00. Following the completion of the transaction, the chief executive officer directly owned 109,254 shares of the company’s stock, valued at approximately $1,891,186.74. The trade was a 57.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Kurt James Wolf also recently made the following trade(s):
- 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 transaction of $416,350.41.
- On Wednesday, September 16th, Kurt Wolf sold 25,371 shares of Pitney Bowes stock. The stock was sold at an average price of $17.43, for a total transaction of $442,216.53.
- On Friday, August 28th, Kurt Wolf sold 397 shares of Pitney Bowes stock. The shares were sold at an average price of $17.42, for a total transaction of $6,915.74.
- On Thursday, August 27th, Kurt Wolf sold 1,920 shares of Pitney Bowes stock. The shares were sold at an average price of $17.42, for a total transaction of $33,446.40.
- On Monday, August 3rd, Kurt Wolf sold 413,266 shares of Pitney Bowes stock. The stock was sold at an average price of $18.11, for a total transaction of $7,484,247.26.
- On Friday, July 31st, Kurt Wolf sold 211,483 shares of Pitney Bowes stock. The stock was sold at an average price of $17.53, for a total transaction of $3,707,296.99.
- On Thursday, July 30th, Kurt Wolf sold 430,443 shares of Pitney Bowes stock. The shares were sold at an average price of $18.23, for a total transaction of $7,846,975.89.
- On Tuesday, July 7th, Kurt Wolf sold 316,280 shares of Pitney Bowes stock. The stock was sold at an average price of $17.10, for a total value of $5,408,388.00.
- On Monday, July 6th, Kurt Wolf sold 55,861 shares of Pitney Bowes stock. The stock was sold at an average price of $16.91, for a total value of $944,609.51.
- On Thursday, July 2nd, Kurt Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $16.83, for a total value of $2,524,500.00.
Pitney Bowes Stock Performance
Shares of PBI stock traded down $0.01 during mid-day trading on Thursday, hitting $17.30. 1,685,874 shares of the stock traded hands, compared to its average volume of 2,556,658. Pitney Bowes Inc. has a twelve month low of $8.95 and a twelve month high of $19.07. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.64. The company’s 50-day simple moving average is $17.40 and its 200-day simple moving average is $15.32.
Pitney Bowes Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Pitney Bowes’s dividend payout ratio (DPR) is 32.79%.
Analyst Upgrades and Downgrades
Several analysts recently commented on PBI shares. Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a research note on Friday, July 31st. Truist Financial upped their price target on Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a report on Friday, July 31st. Citizens Jmp increased their price objective on Pitney Bowes from $19.00 to $22.00 and gave the company a “market outperform” rating in a research report on Friday, July 31st. Weiss Ratings raised Pitney Bowes from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 31st. Finally, Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pitney Bowes currently has a consensus rating of “Moderate Buy” and an average price target of $18.45.
Get Our Latest Research Report on PBI
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL boosted its stake in Pitney Bowes by 33.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 491,200 shares of the technology company’s stock worth $5,192,000 after purchasing an additional 124,000 shares during the period. GSA Capital Partners LLP acquired a new stake in Pitney Bowes during the 4th quarter valued at $1,802,000. Hsbc Holdings PLC raised its stake in Pitney Bowes by 824.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,587,274 shares of the technology company’s stock valued at $27,762,000 after purchasing an additional 1,415,590 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Pitney Bowes in the second quarter valued at $28,683,000. Finally, Permit Capital LLC lifted its holdings in shares of Pitney Bowes by 14.0% in the fourth quarter. Permit Capital LLC now owns 3,250,000 shares of the technology company’s stock valued at $34,352,000 after purchasing an additional 400,000 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.
About Pitney Bowes
Pitney Bowes Inc (NYSE:PBI) is a global technology, shipping and mailing company that provides solutions for businesses managing physical and digital communications, parcels and mail. Its offerings include mailing and shipping equipment, software, supplies, services and financing options designed to help organizations process, track and deliver items.
The company operates through businesses focused on shipping and mailing technology and presort services. Its products and services include postage meters and other mailroom equipment, cloud-based shipping and mailing software, parcel management tools, address and data services, and outsourced mail processing.
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