Pitney Bowes Inc. (NYSE:PBI) Director Kurt James Wolf Sells 481,199 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) Director Kurt James Wolf sold 481,199 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the sale, the director now owns 584,636 shares in the company, valued at approximately $6,296,529.72. The trade was a 45.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $10.66, for a total transaction of $834,518.10.
• On Wednesday, February 12th, Kurt James Wolf sold 1,250,000 shares of Pitney Bowes stock. The shares were sold at an average price of $9.66, for a total transaction of $12,075,000.00.

Pitney Bowes Trading Down 2.6 %

Pitney Bowes stock traded down $0.26 during midday trading on Friday, reaching $9.52. The stock had a trading volume of 2,579,478 shares, compared to its average volume of 2,613,190. The company has a fifty day moving average price of $8.81 and a two-hundred day moving average price of $7.82. Pitney Bowes Inc. has a 12 month low of $3.90 and a 12 month high of $11.01. The company has a market capitalization of $1.74 billion, a P/E ratio of -8.50, a PEG ratio of 0.59 and a beta of 2.02.

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Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data 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%. On average, equities research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 2.52%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. The ex-dividend date is Friday, February 21st. Pitney Bowes's dividend payout ratio (DPR) is -21.43%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Pitney Bowes by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after acquiring an additional 1,299,716 shares in the last quarter. Hestia Capital Management LLC purchased a new stake in shares of Pitney Bowes in the fourth quarter worth approximately $114,326,000. Geode Capital Management LLC lifted its holdings in shares of Pitney Bowes by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company's stock valued at $25,878,000 after purchasing an additional 51,093 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Pitney Bowes by 47.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock valued at $13,139,000 after buying an additional 586,249 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Pitney Bowes by 103.0% during the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock worth $9,189,000 after buying an additional 644,002 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 3rd.

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.