Pitney Bowes (NYSE:PBI) Shares Down 4.2% Following Insider Selling

Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 4.2% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $8.92 and last traded at $8.86. 679,045 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,949,301 shares. The stock had previously closed at $9.24.

Specifically, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pitney Bowes Trading Down 0.7 %

The stock has a market capitalization of $1.61 billion, a P/E ratio of -4.07, a P/E/G ratio of 0.45 and a beta of 2.00. The stock’s 50 day simple moving average is $7.67 and its 200 day simple moving average is $7.22.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The business had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, sell-side analysts expect that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Institutional Investors Weigh In On Pitney Bowes

A number of institutional investors have recently modified their holdings of the business. Hestia Capital Management LLC acquired a new position in Pitney Bowes in the fourth quarter valued at approximately $114,326,000. Assenagon Asset Management S.A. boosted its position in Pitney Bowes by 2,894.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after purchasing an additional 1,187,531 shares during the period. JPMorgan Chase & Co. boosted its position in Pitney Bowes by 182.4% during the 3rd 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 period. Marshall Wace LLP grew its stake in Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after buying an additional 503,378 shares during the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in Pitney Bowes in the third quarter worth $3,470,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Company Profile

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.