Paramount Group, Inc. (NYSE:PGRE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 644,648 shares of the financial services provider's stock after selling 219,278 shares during the quarter. Bank of New York Mellon Corp owned 0.30% of Paramount Group worth $3,185,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PGRE. Geode Capital Management LLC boosted its stake in shares of Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider's stock valued at $23,107,000 after purchasing an additional 345,450 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Paramount Group by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider's stock valued at $12,388,000 after purchasing an additional 443,777 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Paramount Group by 398.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider's stock worth $6,830,000 after acquiring an additional 1,109,485 shares during the last quarter. Barclays PLC lifted its stake in Paramount Group by 95.5% in the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider's stock worth $2,242,000 after acquiring an additional 222,656 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paramount Group by 782.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider's stock worth $1,756,000 after acquiring an additional 316,399 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company's stock.

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Paramount Group Stock Down 1.5 %

PGRE stock traded down $0.07 during midday trading on Friday, reaching $4.15. 2,089,853 shares of the company were exchanged, compared to its average volume of 971,104. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. Paramount Group, Inc. has a 1-year low of $3.96 and a 1-year high of $5.47. The stock's 50-day simple moving average is $4.52 and its 200 day simple moving average is $4.80. The company has a market cap of $901.65 million, a price-to-earnings ratio of -4.23 and a beta of 1.22.

Paramount Group (NYSE:PGRE - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The company had revenue of $186.27 million for the quarter, compared to analysts' expectations of $180.41 million. On average, equities analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Paramount Group from $4.25 to $4.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 18th. Mizuho decreased their price target on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th.

Paramount Group Company Profile

Paramount Group, Inc ("Paramount" or the "Company") is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.