Pitney Bowes Inc. (NYSE:PBI) Director Sells $12,075,000.00 in Stock

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

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 Trading Up 0.3 %

Shares of NYSE PBI opened at $10.55 on Monday. The firm’s 50-day moving average price is $7.94 and its 200-day moving average price is $7.42. Pitney Bowes Inc. has a 1-year low of $3.73 and a 1-year high of $10.81. The firm has a market capitalization of $1.92 billion, a P/E ratio of -4.84, a P/E/G ratio of 0.52 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate 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%. Equities research analysts forecast that Pitney Bowes Inc. will post 0.4 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.28%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, February 21st. Pitney Bowes’s payout ratio is currently -9.17%.

Institutional Trading of Pitney Bowes

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Pitney Bowes in the 4th quarter worth about $31,000. Smartleaf Asset Management LLC boosted its stake in shares of Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after buying an additional 2,873 shares during the last quarter. Quarry LP grew its holdings in shares of Pitney Bowes by 889.2% in the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after acquiring an additional 7,478 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Pitney Bowes during the third quarter valued at approximately $86,000. Finally, AQR Capital Management LLC bought a new stake in Pitney Bowes during the second quarter worth $97,000. 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.