D. E. Shaw & Co. Inc. Sells 119,246 Shares of Paramount Group, Inc. (NYSE:PGRE)

D. E. Shaw & Co. Inc. lowered its stake in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847,017 shares of the financial services provider's stock after selling 119,246 shares during the period. D. E. Shaw & Co. Inc. owned 0.39% of Paramount Group worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in 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 acquiring an additional 477,940 shares during the last quarter. Long Pond Capital LP increased its holdings in shares of Paramount Group by 12.5% in the fourth quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider's stock worth $49,663,000 after purchasing an additional 1,116,395 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Paramount Group by 2.9% in the fourth quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider's stock worth $24,011,000 after buying an additional 135,654 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Paramount Group by 11.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider's stock valued at $14,304,000 after buying an additional 292,392 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Paramount Group by 40.1% during the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock valued at $14,282,000 after buying an additional 827,187 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company's stock.

Analyst Upgrades and Downgrades

PGRE has been the subject of a number of research reports. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and increased their target price for the company from $4.50 to $8.00 in a research report on Tuesday. Morgan Stanley reiterated an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a research report on Tuesday, April 15th. StockNews.com downgraded shares of Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Mizuho lowered their price target on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced their price objective on Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a research note on Monday. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $5.19.

Paramount Group Trading Up 2.0%

NYSE PGRE traded up $0.12 on Wednesday, hitting $5.75. 3,590,231 shares of the stock were exchanged, compared to its average volume of 1,344,311. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $5.78. The firm has a market capitalization of $1.26 billion, a P/E ratio of -5.86 and a beta of 1.12. The stock has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $4.60.

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

Insider Activity

In related news, CEO Albert P. Behler bought 10,000 shares of the stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of $4.15 per share, with a total value of $41,500.00. Following the completion of the purchase, the chief executive officer now owns 751,812 shares of the company's stock, valued at $3,120,019.80. This trade represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.80% of the company's stock.

About Paramount Group

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.