Prudential Financial Inc. Has $7.34 Million Holdings in Paramount Group, Inc. (NYSE:PGRE)

Prudential Financial Inc. increased its holdings in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 21.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,484,866 shares of the financial services provider's stock after purchasing an additional 266,300 shares during the quarter. Prudential Financial Inc. owned approximately 0.68% of Paramount Group worth $7,335,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Paramount Group by 226.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider's stock worth $35,000 after buying an additional 4,950 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Paramount Group during the third quarter valued at approximately $37,000. Greenleaf Trust acquired a new position in Paramount Group during the fourth quarter valued at approximately $63,000. Quantinno Capital Management LP bought a new position in Paramount Group in the third quarter valued at approximately $64,000. Finally, US Bancorp DE increased its position in shares of 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 purchasing an additional 3,708 shares during the last quarter. Institutional investors own 65.64% of the company's stock.

Insider Activity

In related news, CEO Albert P. Behler bought 10,000 shares of the business's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $4.15 per share, with a total value of $41,500.00. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.50% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley cut 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 reduced their price objective on Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th.

Paramount Group Price Performance

NYSE PGRE traded down $0.28 on Thursday, hitting $4.15. 170,257 shares of the company's stock were exchanged, compared to its average volume of 1,029,362. The stock has a 50-day moving average of $4.47 and a 200-day moving average of $4.76. The stock has a market cap of $901.65 million, a price-to-earnings ratio of -4.23 and a beta of 1.22. Paramount Group, Inc. has a 52 week low of $3.96 and a 52 week high of $5.47. 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 (NYSE:PGRE - Get Free Report) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $186.27 million during the quarter, compared to the consensus estimate of $180.41 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. Analysts expect that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

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.