American Century Companies Inc. Acquires 34,306 Shares of Paramount Group, Inc. $PGRE

American Century Companies Inc. lifted its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 222.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,749 shares of the financial services provider's stock after acquiring an additional 34,306 shares during the period. American Century Companies Inc.'s holdings in Paramount Group were worth $214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Manchester Capital Management LLC boosted its stake in Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock worth $38,000 after buying an additional 4,415 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in Paramount Group during the fourth quarter worth $52,000. Wolverine Asset Management LLC boosted its stake in Paramount Group by 86.6% during the first quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock worth $52,000 after buying an additional 5,659 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Paramount Group by 104.8% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,621 shares of the financial services provider's stock worth $72,000 after buying an additional 7,481 shares in the last quarter. Finally, Levin Capital Strategies L.P. acquired a new stake in Paramount Group during the first quarter worth $64,000. Institutional investors and hedge funds own 65.64% of the company's stock.

Paramount Group Price Performance

Shares of NYSE:PGRE traded down $0.08 on Friday, hitting $7.13. The stock had a trading volume of 1,872,955 shares, compared to its average volume of 2,622,326. Paramount Group, Inc. has a twelve month low of $3.75 and a twelve month high of $7.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91. The firm's 50 day moving average price is $6.70 and its 200-day moving average price is $5.58. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -19.81 and a beta of 1.38.

Paramount Group (NYSE:PGRE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The company had revenue of $177.05 million for the quarter, compared to the consensus estimate of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. On average, equities research analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PGRE. Mizuho lifted their price target on shares of Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Evercore ISI upgraded shares of Paramount Group from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their price target on shares of Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a research note on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.36.

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.