I guess the management of Pitney Bowes thought enough was enough as their share price dipped down to levels not seen since the late 1980s. Today a flurry of form 4's were posted to the PB investor relations site.
By far the largest buys were by Chairman, president and CEO Murray Martin who bought 20,000 shares on 5/21/12 for between 13.55 and 13.56 per share. Altogether the purchases by insiders yesterday and today total $437,806.50. This is a significant buy at a time when the stock is under extreme duress.
I was right there with them buying more at 13.50 and then more at 13.00 and I had a buy in for 12.50 that never got filled. PBI is surely not without risk but I think the reward of a double digit dividend more than compensates for the risk/reward ratio here. It looks like management agrees.
Edit: Since posting this another insider buy was made on 5/25/12 bringing the total up to 472,081.50
Disclosure: I am long PBI.
Additional disclosure: Nothing written is intended as investment advice.