Lauren Freemen-Bosworth Sells 42,308 Shares of Pitney Bowes Inc. (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pitney Bowes Stock Performance

Shares of PBI stock traded down $0.25 during trading hours on Tuesday, reaching $7.80. The company had a trading volume of 1,316,282 shares, compared to its average volume of 1,748,705. The company has a market capitalization of $1.42 billion, a P/E ratio of -3.65, a price-to-earnings-growth ratio of 1.41 and a beta of 1.97. Pitney Bowes Inc. has a twelve month low of $3.68 and a twelve month high of $8.80. The stock’s fifty day simple moving average is $7.35 and its 200 day simple moving average is $6.59.

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

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.56%. Pitney Bowes’s dividend payout ratio is presently -9.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st.

Hedge Funds Weigh In On Pitney Bowes

A number of institutional investors have recently made changes to their positions in the business. Tidal Investments LLC acquired a new stake in shares of Pitney Bowes during the 1st quarter valued at approximately $764,000. Assenagon Asset Management S.A. bought a new stake in Pitney Bowes during the second quarter valued at $208,000. 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. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Pitney Bowes in the third quarter valued at approximately $3,442,000. Finally, American Assets Inc. acquired a new position in Pitney Bowes in the third quarter valued at approximately $513,000. 67.88% of the stock is owned by institutional investors and hedge funds.

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.