Deutsche Bank AG Acquires 353,803 Shares of Paramount Group, Inc. (NYSE:PGRE)

Deutsche Bank AG grew its holdings in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 58.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 960,894 shares of the financial services provider's stock after acquiring an additional 353,803 shares during the period. Deutsche Bank AG owned 0.44% of Paramount Group worth $4,747,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PGRE. Cubist Systematic Strategies LLC lifted its stake in shares of Paramount Group by 318.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 291,067 shares of the financial services provider's stock worth $1,438,000 after buying an additional 221,540 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Paramount Group by 8.4% in the fourth quarter. BNP Paribas Financial Markets now owns 96,923 shares of the financial services provider's stock worth $479,000 after buying an additional 7,489 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Paramount Group by 159.7% in the fourth quarter. Ameriprise Financial Inc. now owns 43,239 shares of the financial services provider's stock worth $214,000 after buying an additional 26,590 shares during the last quarter. Algert Global LLC lifted its stake in shares of Paramount Group by 8.2% in the fourth quarter. Algert Global LLC now owns 354,432 shares of the financial services provider's stock worth $1,751,000 after buying an additional 26,742 shares during the last quarter. Finally, Solel Partners LP acquired a new stake in shares of Paramount Group in the fourth quarter worth $6,719,000. 65.64% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Albert P. Behler bought 10,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the chief executive officer now owns 751,812 shares in the company, valued at approximately $3,120,019.80. This represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PGRE. Wall Street Zen downgraded shares of Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Morgan Stanley reissued an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a report on Tuesday, April 15th. Evercore ISI raised shares of Paramount Group from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $4.50 to $8.00 in a report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Finally, Mizuho decreased their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.19.

Paramount Group Trading Up 1.8%

NYSE PGRE traded up $0.11 during trading on Friday, reaching $5.84. 3,305,034 shares of the stock traded hands, compared to its average volume of 1,371,328. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -5.95 and a beta of 1.12. The stock's 50-day moving average price is $4.46 and its 200 day moving average price is $4.62. 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 fifty-two week low of $3.75 and a fifty-two week high of $5.87.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The firm had revenue of $187.02 million for the quarter, compared to analyst estimates of $180.79 million. Analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current year.

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.