Insider Selling: Pitney Bowes Inc. (NYSE:PBI) EVP Sells 130,000 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) EVP James Arthur Fairweather sold 130,000 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the sale, the executive vice president now owns 176,145 shares of the company's stock, valued at approximately $1,907,650.35. This trade represents a 42.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pitney Bowes Price Performance

Shares of Pitney Bowes stock traded down $0.21 during trading on Monday, hitting $10.62. The stock had a trading volume of 3,698,712 shares, compared to its average volume of 2,606,848. The firm has a market cap of $1.94 billion, a P/E ratio of -9.48, a PEG ratio of 0.59 and a beta of 2.01. The business has a fifty day moving average of $8.54 and a two-hundred day moving average of $7.73. Pitney Bowes Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. As a group, research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Remove Ads

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.26%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. Pitney Bowes's dividend payout ratio is currently -21.43%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Monday.

Institutional Investors Weigh In On Pitney Bowes

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Pitney Bowes during the fourth quarter valued at $31,000. Smartleaf Asset Management LLC lifted its holdings in shares of Pitney Bowes by 130.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after purchasing an additional 2,873 shares during the last quarter. Quarry LP raised its position in Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company's stock valued at $59,000 after buying an additional 7,478 shares during the period. Truvestments Capital LLC acquired a new position in Pitney Bowes during the third quarter valued at $86,000. Finally, Xponance Inc. raised its position in Pitney Bowes by 36.7% during the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock valued at $103,000 after buying an additional 3,837 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.