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Kurt Wolf, a director at Pitney Bowes Inc . (NYSE:PBI), has sold a significant amount of the company's common stock, according to a recent SEC filing. The transactions, executed over a three-day period from February 12 to February 14, 2025, amounted to a total value of $15.85 million. The stock has shown remarkable momentum, gaining 164% over the past year and currently trading near its 52-week high of $10.81. InvestingPro analysis indicates the stock is trading above its Fair Value, with technical indicators suggesting overbought conditions.
On February 12, Wolf sold 1,250,000 shares at an average price of $9.66, with the stock price during these transactions ranging from $9.01 to $9.95. The shares were sold through entities including Hestia Capital Partners (WA:CPAP), LP, Helios I, LP, and separately managed accounts.
The following day, February 13, Wolf continued to sell shares, offloading 276,393 shares at an average price of $10.65, with prices ranging from $10.60 to $10.80.
On February 14, the sales totaled 78,285 shares at an average price of $10.66, with the price range from $10.60 to $10.73.
These sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. Wolf's involvement with Hestia Capital Partners and Helios I, LP, through which the shares were sold, positions him as a key figure in these investment entities. However, he disclaims beneficial ownership of the securities except to the extent of his pecuniary interest. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access the detailed Pro Research Report, featuring expert analysis of Pitney Bowes' financial health, valuation metrics, and growth prospects.
In other recent news, Pitney Bowes Inc. reported a robust fourth-quarter performance, surpassing analyst expectations with earnings and revenue figures. The company posted adjusted earnings per share of $0.32, higher than the predicted $0.21, and revenue of $516 million, outpacing estimates of $489.77 million. For the full year 2024, the firm generated $2.027 billion in revenue and an adjusted EPS of $0.82.
In recent developments, Pitney Bowes also provided an optimistic outlook for 2025, projecting revenue between $1.95 billion and $2 billion, and an adjusted EPS of $1.10 to $1.30. This guidance surpasses analyst expectations of $1.973 billion in revenue and an EPS of $1.04.
The company has also authorized a new $150 million share repurchase and increased its quarterly dividend to $0.06 per share. Additionally, Pitney Bowes reported progress on its strategic initiatives, including the near-completion of its Global Ecommerce exit and achieving $120 million in annualized cost savings by the end of 2024, with a target of reaching total net annualized cost savings of $170 million to $190 million.
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