Resona Asset Management Co. Ltd. Takes Position in Paramount Group, Inc. (NYSE:PGRE)

Resona Asset Management Co. Ltd. acquired a new position in Paramount Group, Inc. (NYSE:PGRE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 72,737 shares of the financial services provider's stock, valued at approximately $353,000.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Paramount Group by 21.4% during the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider's stock worth $12,388,000 after acquiring an additional 443,777 shares during the period. Geode Capital Management LLC raised its position in Paramount Group by 7.9% in the 3rd 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Paramount Group by 1.8% in 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 buying an additional 477,940 shares during the period. Franklin Resources Inc. acquired a new position in shares of Paramount Group during the third quarter worth about $643,000. Finally, Barclays PLC increased its stake in shares of Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider's stock worth $2,242,000 after buying an additional 222,656 shares during the period. Hedge funds and other institutional investors own 65.64% of the company's stock.

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Wall Street Analyst Weigh In

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

Paramount Group Stock Performance

PGRE traded down $0.13 during trading on Tuesday, hitting $4.12. 2,135,410 shares of the stock were exchanged, compared to its average volume of 1,120,010. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $5.47. The stock has a fifty day moving average price of $4.34 and a two-hundred day moving average price of $4.69. The firm has a market capitalization of $902.11 million, a P/E ratio of -4.20 and a beta of 1.10.

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

Insider Buying and Selling at Paramount Group

In related news, CEO Albert P. Behler purchased 10,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $4.15 per share, with a total value of $41,500.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 13.50% of the stock is currently owned by company insiders.

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.