Legal & General Group Plc increased its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,860,475 shares of the financial services provider's stock after purchasing an additional 135,654 shares during the period. Legal & General Group Plc owned 2.23% of Paramount Group worth $24,011,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in PGRE. Bank of Montreal Can grew its position in shares of Paramount Group by 32.8% during the fourth quarter. Bank of Montreal Can now owns 145,692 shares of the financial services provider's stock worth $720,000 after acquiring an additional 35,994 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Paramount Group by 1,804.8% in the fourth quarter. Russell Investments Group Ltd. now owns 46,059 shares of the financial services provider's stock valued at $228,000 after purchasing an additional 43,641 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Paramount Group by 27.6% during the fourth quarter. Wells Fargo & Company MN now owns 108,292 shares of the financial services provider's stock valued at $535,000 after buying an additional 23,434 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in Paramount Group in the 4th quarter worth approximately $353,000. Finally, Franklin Resources Inc. raised its stake in Paramount Group by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 132,799 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 5,402 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.
Paramount Group Price Performance
Shares of NYSE:PGRE traded down $0.13 during trading hours on Tuesday, hitting $4.12. 2,135,410 shares of the company's stock traded hands, compared to its average volume of 1,121,862. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The company's fifty day simple moving average is $4.34 and its two-hundred day simple moving average is $4.69. Paramount Group, Inc. has a 52 week low of $3.75 and a 52 week high of $5.47. The company has a market cap of $902.11 million, a price-to-earnings ratio of -4.20 and a beta of 1.10.
Paramount Group (NYSE:PGRE - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $186.27 million for the quarter, compared to analysts' expectations of $180.41 million. As a group, equities analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Morgan Stanley restated an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a research note on Tuesday. Mizuho lowered their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th.
Check Out Our Latest Analysis on PGRE
Insider Buying and Selling
In other news, CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the acquisition, the chief executive officer now directly owns 751,812 shares in the company, valued at $3,120,019.80. This represents a 1.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.50% of the stock is currently owned by corporate insiders.
About Paramount Group
(
Free Report)
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.
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