546,715 Shares in Paramount Group, Inc. (NYSE:PGRE) Acquired by Norges Bank

Norges Bank bought a new position in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 546,715 shares of the financial services provider's stock, valued at approximately $2,701,000. Norges Bank owned 0.25% of Paramount Group at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Paramount Group by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider's stock valued at $132,999,000 after purchasing an additional 477,940 shares during the last quarter. JPMorgan Chase & Co. raised its position 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. Geode Capital Management LLC lifted its stake in shares of Paramount Group by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider's stock worth $23,107,000 after buying an additional 345,450 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Paramount Group by 78.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 637,384 shares of the financial services provider's stock worth $3,149,000 after buying an additional 280,559 shares during the period. Finally, Prudential Financial Inc. grew its stake in Paramount Group by 21.9% in the 4th quarter. Prudential Financial Inc. now owns 1,484,866 shares of the financial services provider's stock valued at $7,335,000 after buying an additional 266,300 shares during the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

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Paramount Group Price Performance

NYSE:PGRE traded down $0.11 during trading hours on Tuesday, reaching $4.13. 942,152 shares of the company were exchanged, compared to its average volume of 1,438,867. The business has a 50 day moving average of $4.34 and a 200 day moving average of $4.69. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $5.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The company has a market capitalization of $905.40 million, a P/E ratio of -4.21 and a beta of 1.10.

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

Insider Buying and Selling

In other news, CEO Albert P. Behler acquired 10,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 751,812 shares in the company, valued at approximately $3,120,019.80. This trade represents a 1.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 13.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PGRE shares. Mizuho cut their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley restated an "underweight" rating and issued a $3.25 price target on shares of Paramount Group in a research note on Tuesday.

Paramount Group 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.