Paramount Group, Inc. (NYSE:PGRE) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in Paramount Group, Inc. (NYSE:PGRE) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,895,573 shares of the financial services provider’s stock after purchasing an additional 292,392 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.33% of Paramount Group worth $14,304,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 443,777 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock valued at $23,107,000 after acquiring an additional 345,450 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Paramount Group in the third quarter valued at about $643,000. 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 acquiring an additional 222,656 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Paramount Group by 398.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock worth $6,830,000 after purchasing an additional 1,109,485 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Price Performance

PGRE stock opened at $3.98 on Friday. The firm has a 50 day moving average of $4.45 and a 200-day moving average of $4.75. The company has a market cap of $865.76 million, a price-to-earnings ratio of -4.06 and a beta of 1.22. 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 12-month low of $3.91 and a 12-month high of $5.47.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings data 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 firm had revenue of $186.27 million during the quarter, compared to analysts’ expectations of $180.41 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. As a group, equities analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Insider Activity at Paramount Group

In related news, CEO Albert P. Behler bought 10,000 shares of Paramount Group 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 purchase, the chief executive officer now 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 is available through this link. 13.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PGRE has been the topic of several recent analyst reports. Mizuho dropped their target price 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 cut their price objective on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th.

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.