Insider Selling: Pitney Bowes Inc. (NYSE:PBI) Director Sells 1,250,000 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) Director Kurt James Wolf sold 1,250,000 shares of the firm's stock in a transaction dated 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 owns 622,250 shares in the company, valued at $6,010,935. The trade was a 66.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $10.66, for a total value of $834,518.10.

Pitney Bowes Price Performance

NYSE PBI traded up $0.06 on Tuesday, reaching $10.65. 3,372,822 shares of the company's stock traded hands, compared to its average volume of 2,575,623. The stock has a market cap of $1.93 billion, a PE ratio of -4.88, a P/E/G ratio of 0.52 and a beta of 2.01. Pitney Bowes Inc. has a 12 month low of $3.73 and a 12 month high of $10.81. The stock has a 50-day simple moving average of $8.00 and a 200 day simple moving average of $7.45.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. As a group, analysts anticipate that Pitney Bowes Inc. will post 0.4 EPS for the current year.

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 paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's payout ratio is -21.43%.

Institutional Investors Weigh In On Pitney Bowes

Several institutional investors have recently bought and sold shares of the stock. PharVision Advisers LLC bought a new stake in Pitney Bowes in the fourth quarter valued at approximately $107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Pitney Bowes by 7.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,051 shares of the technology company's stock worth $2,882,000 after buying an additional 27,629 shares during the period. Two Sigma Investments LP increased its stake in shares of Pitney Bowes by 1.2% in the fourth quarter. Two Sigma Investments LP now owns 807,414 shares of the technology company's stock worth $5,846,000 after buying an additional 9,471 shares during the period. ProShare Advisors LLC raised its holdings in Pitney Bowes by 46.1% during the 4th quarter. ProShare Advisors LLC now owns 48,813 shares of the technology company's stock valued at $353,000 after buying an additional 15,399 shares during the last quarter. Finally, Man Group plc boosted its position in Pitney Bowes by 76.1% during the 4th quarter. Man Group plc now owns 101,142 shares of the technology company's stock valued at $732,000 after buying an additional 43,694 shares during the period. 67.88% of the stock is currently 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.