Cohen & Steers Inc. Takes $9.23 Million Position in Paramount Group, Inc. (NYSE:PGRE)

Cohen & Steers Inc. acquired a new stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,868,631 shares of the financial services provider's stock, valued at approximately $9,231,000. Cohen & Steers Inc. owned 0.86% of Paramount Group at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PGRE. Metis Global Partners LLC grew its position in Paramount Group by 16.3% in the 4th quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 2,935 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Paramount Group by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 239,200 shares of the financial services provider's stock valued at $1,182,000 after purchasing an additional 3,000 shares in the last quarter. US Bancorp DE increased its stake in Paramount Group by 33.9% during the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider's stock worth $72,000 after buying an additional 3,708 shares during the period. Sterling Capital Management LLC lifted its holdings in Paramount Group by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after buying an additional 5,257 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Paramount Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 132,799 shares of the financial services provider's stock valued at $656,000 after buying an additional 5,402 shares during the period. Institutional investors and hedge funds own 65.64% of the company's stock.

Insider Activity at Paramount Group

In related news, CEO Albert P. Behler acquired 10,000 shares of Paramount Group stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the transaction, the chief executive officer now owns 751,812 shares of the company's stock, valued at $3,120,019.80. This represents a 1.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.80% of the stock is currently owned by corporate insiders.

Paramount Group Stock Up 2.5 %

Shares of PGRE stock traded up $0.11 on Friday, reaching $4.28. 7,038,413 shares of the stock were exchanged, compared to its average volume of 1,161,871. The company has a market capitalization of $937.19 million, a price-to-earnings ratio of -4.36 and a beta of 1.10. The business's 50 day moving average price is $4.29 and its 200 day moving average price is $4.67. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a twelve month low of $3.75 and a twelve month high of $5.47.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The company had revenue of $186.27 million during the quarter, compared to the consensus estimate of $180.41 million. As a group, sell-side analysts expect that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PGRE shares. Mizuho cut their price objective on Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley restated an "underweight" rating and set a $3.25 price target on shares of Paramount Group in a report on Tuesday, April 15th.

About Paramount Group

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.