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

Teacher Retirement System of Texas increased its holdings in Pitney Bowes Inc. (NYSE:PBI) by 15.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,196 shares of the technology company’s stock after purchasing an additional 27,945 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Pitney Bowes worth $1,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Xponance Inc. raised its holdings in shares of Pitney Bowes by 36.7% in the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after buying an additional 3,837 shares in the last quarter. Cibc World Markets Corp acquired a new position in Pitney Bowes during the fourth quarter worth $110,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,878 shares during the period. Swiss National Bank boosted its stake in shares of Pitney Bowes by 1.1% in the 4th quarter. Swiss National Bank now owns 317,800 shares of the technology company’s stock valued at $2,301,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Pitney Bowes by 7.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 519,740 shares of the technology company’s stock worth $3,763,000 after purchasing an additional 37,009 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Price Performance

Shares of PBI opened at $9.31 on Friday. The company has a market capitalization of $1.70 billion, a P/E ratio of -8.31, a PEG ratio of 0.59 and a beta of 2.02. Pitney Bowes Inc. has a one year low of $3.90 and a one year high of $11.01. The business’s 50 day simple moving average is $9.45 and its 200-day simple moving average is $8.07.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes 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 sale, the executive vice president now directly owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kurt James Wolf sold 1,250,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now directly owns 622,250 shares in the company, valued at $6,010,935. This trade represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,974,484 shares of company stock valued at $19,815,631. Insiders own 14.30% 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.