Pitney Bowes Inc. (NYSE:PBI) EVP James Arthur Fairweather Sells 130,000 Shares

Pitney Bowes Inc. (NYSE:PBI) EVP James Arthur Fairweather sold 130,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This represents a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Pitney Bowes Trading Up 0.4 %

Shares of Pitney Bowes stock opened at $10.82 on Friday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -9.66, a P/E/G ratio of 0.59 and a beta of 2.01. Pitney Bowes Inc. has a 1-year low of $3.90 and a 1-year high of $11.01. The firm’s 50-day moving average price is $8.54 and its two-hundred day moving average price is $7.72.

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

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.06 per share. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, February 21st. Pitney Bowes’s dividend payout ratio is -21.43%.

Institutional Trading of Pitney Bowes

Several hedge funds have recently modified their holdings of PBI. Hestia Capital Management LLC bought a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $114,326,000. Vanguard Group Inc. grew its stake 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 valued at $153,217,000 after purchasing an additional 1,299,716 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $6,245,000. Millennium Management LLC grew its stake in shares of Pitney Bowes by 103.0% during the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company’s stock valued at $9,189,000 after purchasing an additional 644,002 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after purchasing an additional 624,878 shares during the last quarter. 67.88% of the stock is owned by 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.