Paramount Group, Inc. $PGRE Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Paramount Group, Inc. by 8.1%, selling 266,477 shares during the first quarter, leaving them with 3,004,220 shares valued at approximately $12.9 million.
• Multiple institutional investors have been active with Paramount Group, with Northern Trust Corp increasing its holdings by 40.1% and Deutsche Bank AG raising its stake by 58.3% in the fourth quarter.
• Recent analyst reports show divided views, with Mizuho setting a new price target of $6.00 while Wells Fargo downgraded their target to $4.50, resulting in a consensus rating of "Hold" for Paramount Group.

Charles Schwab Investment Management Inc. lessened its stake in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,004,220 shares of the financial services provider's stock after selling 266,477 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.37% of Paramount Group worth $12,918,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Levin Capital Strategies L.P. acquired a new position in shares of Paramount Group in the 1st quarter valued at $64,000. Manchester Capital Management LLC increased its holdings in shares of Paramount Group by 99.2% in the 1st quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 4,415 shares during the period. XTX Topco Ltd increased its holdings in shares of Paramount Group by 249.9% in the 1st quarter. XTX Topco Ltd now owns 162,968 shares of the financial services provider's stock valued at $701,000 after acquiring an additional 116,394 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Paramount Group by 102.8% in the 1st quarter. GSA Capital Partners LLP now owns 402,937 shares of the financial services provider's stock valued at $1,733,000 after acquiring an additional 204,248 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Paramount Group in the 1st quarter valued at $6,164,000. Hedge funds and other institutional investors own 65.64% of the company's stock.

Paramount Group Stock Performance

Paramount Group stock traded up $0.14 during trading hours on Friday, reaching $7.21. 2,418,617 shares of the stock were exchanged, compared to its average volume of 3,350,727. The stock has a market cap of $1.59 billion, a P/E ratio of -20.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $7.26. The firm's 50 day moving average is $6.46 and its 200 day moving average is $5.39.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $177.05 million for the quarter, compared to analysts' expectations of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PGRE. Mizuho lifted their target price on shares of Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Evercore ISI raised shares of Paramount Group from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company cut their target price on shares of Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.36.

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.