Insider Selling: Pitney Bowes (NYSE:PBI) EVP Sells $301,125.00 in Stock

Pitney Bowes Inc. (NYSE:PBI) EVP Deborah Pfeiffer sold 18,750 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the sale, the executive vice president owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. The trade was a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pitney Bowes Stock Down 1.4%

PBI stock opened at $16.48 on Thursday. The business has a 50 day moving average price of $13.96 and a 200 day moving average price of $11.59. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.75 and a beta of 1.63. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $17.08.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $477.41 million during the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 18th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, May 18th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pitney Bowes’s payout ratio is presently 38.83%.

Institutional Investors Weigh In On Pitney Bowes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBI. LSV Asset Management lifted its stake in Pitney Bowes by 246.7% in the fourth quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after buying an additional 2,986,689 shares during the last quarter. Cannell & Spears LLC lifted its stake in Pitney Bowes by 89.5% in the third quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after buying an additional 1,588,579 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Pitney Bowes during the first quarter worth approximately $16,403,000. Millennium Management LLC raised its stake in shares of Pitney Bowes by 60.2% during the fourth quarter. Millennium Management LLC now owns 2,630,801 shares of the technology company’s stock worth $27,808,000 after purchasing an additional 988,653 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of Pitney Bowes by 2,724.6% during the third quarter. Cibc World Market Inc. now owns 836,071 shares of the technology company’s stock worth $9,540,000 after purchasing an additional 806,471 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PBI shares. Citigroup restated an “outperform” rating on shares of Pitney Bowes in a research note on Friday, April 17th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Truist Financial boosted their price objective on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.18.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.