Insider Selling: Pitney Bowes Inc. (NYSE:PBI) Director Sells 78,285 Shares of Stock

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) Director Kurt James Wolf sold 78,285 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the sale, the director now owns 606,289 shares of the company's stock, valued at approximately $6,463,040.74. This represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kurt James Wolf also recently made the following trade(s):

• 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 Stock Up 0.5 %

NYSE:PBI traded up $0.06 during mid-day trading on Tuesday, hitting $10.65. 3,372,822 shares of the stock traded hands, compared to its average volume of 2,575,623. Pitney Bowes Inc. has a 52 week low of $3.73 and a 52 week high of $10.81. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -4.88, a PEG ratio of 0.52 and a beta of 2.01. The firm's 50 day moving average is $8.00 and its two-hundred day moving average is $7.45.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, beating analysts' consensus estimates 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%. As a group, research analysts predict that Pitney Bowes Inc. will post 0.4 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.25%. 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 dividend payout ratio (DPR) is -21.43%.

Institutional Trading of Pitney Bowes

Large investors have recently made changes to their positions in the stock. Hestia Capital Management LLC bought a new stake in Pitney Bowes during the 4th quarter valued at about $114,326,000. Vanguard Group Inc. increased its position in shares of Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after acquiring an additional 1,299,716 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Pitney Bowes by 2,894.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company's stock valued at $8,760,000 after acquiring an additional 1,187,531 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Pitney Bowes in the fourth quarter valued at approximately $6,245,000. Finally, Millennium Management LLC grew its stake in Pitney Bowes by 103.0% in the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock worth $9,189,000 after purchasing an additional 644,002 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, 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.