Pitney Bowes (NYSE:PBI) Trading Down 4.2% After Insider Selling

Pitney Bowes Inc. (NYSE:PBI)’s share price traded down 4.2% on Tuesday following insider selling activity. The stock traded as low as $8.92 and last traded at $8.86. 679,045 shares traded hands 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 the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the transaction, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Pitney Bowes Price Performance

The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -4.07, a PEG ratio of 0.45 and a beta of 2.00. The company’s 50-day moving average is $7.67 and its 200-day moving average is $7.22.

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

Pitney Bowes Dividend Announcement

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

Institutional Trading of Pitney Bowes

Several large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in Pitney Bowes by 47.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after acquiring an additional 586,249 shares in the last quarter. Algert Global LLC lifted its position in shares of Pitney Bowes by 76.9% in the 3rd quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock worth $2,459,000 after buying an additional 149,944 shares during the last quarter. FMR LLC boosted its holdings in shares of Pitney Bowes by 3,308.0% in the 3rd quarter. FMR LLC now owns 320,152 shares of the technology company’s stock valued at $2,283,000 after buying an additional 310,758 shares during the period. JPMorgan Chase & Co. raised its stake in Pitney Bowes by 182.4% during the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after acquiring an additional 624,878 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Pitney Bowes in the third quarter worth about $3,442,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.