Teacher Retirement System of Texas Purchases 27,945 Shares of Pitney Bowes Inc. (NYSE:PBI)

Teacher Retirement System of Texas raised its position in Pitney Bowes Inc. (NYSE:PBI) by 15.9% in the 4th quarter, Holdings Channel reports. The firm owned 204,196 shares of the technology company’s stock after buying an additional 27,945 shares during the period. Teacher Retirement System of Texas’ holdings in Pitney Bowes were worth $1,478,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PBI. Smartleaf Asset Management LLC increased its position in shares of Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after buying an additional 2,873 shares in the last quarter. Quarry LP grew its stake in Pitney Bowes by 889.2% in the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after acquiring an additional 7,478 shares during the period. Xponance Inc. increased its holdings in shares of Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after acquiring an additional 3,837 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Pitney Bowes during the fourth quarter worth about $110,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Pitney Bowes by 101.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company’s stock worth $117,000 after purchasing an additional 8,221 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Down 2.4 %

Shares of PBI stock opened at $9.31 on Friday. Pitney Bowes Inc. has a 12-month low of $3.90 and a 12-month high of $11.01. The firm has a fifty day moving average of $9.45 and a 200-day moving average of $8.07. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -8.31, a P/E/G ratio of 0.59 and a beta of 2.02.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. On average, equities analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a $0.06 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 2.58%. Pitney Bowes’s payout ratio is presently -21.43%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, Director Kurt James Wolf sold 78,285 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.66, for a total transaction of $834,518.10. Following the sale, the director now directly owns 606,289 shares of the company’s stock, valued at $6,463,040.74. The trade was a 11.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 124,124 shares of the company’s stock, valued at $1,119,598.48. The trade was a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,974,484 shares of company stock valued at $19,815,631 in the last ninety days. 14.30% of the stock is currently owned by corporate insiders.

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.