Legal & General Group Plc Boosts Holdings in Paramount Group, Inc. (NYSE:PGRE)

Legal & General Group Plc increased its position in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,860,475 shares of the financial services provider's stock after purchasing an additional 135,654 shares during the period. Legal & General Group Plc owned 2.23% of Paramount Group worth $24,011,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Greenleaf Trust acquired a new stake in Paramount Group during the fourth quarter worth $63,000. Quantinno Capital Management LP acquired a new position in Paramount Group in the third quarter valued at about $64,000. US Bancorp DE increased its position in shares of Paramount Group by 33.9% during the fourth quarter. US Bancorp DE now owns 14,656 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 3,708 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Paramount Group in the 4th quarter valued at approximately $76,000. Finally, Cibc World Markets Corp acquired a new position in shares of Paramount Group in the 4th quarter worth approximately $85,000. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Stock Up 2.5 %

NYSE:PGRE traded up $0.11 during midday trading on Friday, reaching $4.28. The company had a trading volume of 7,038,413 shares, compared to its average volume of 1,160,729. Paramount Group, Inc. has a 12-month low of $3.75 and a 12-month high of $5.47. The firm has a market capitalization of $937.19 million, a price-to-earnings ratio of -4.36 and a beta of 1.10. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The stock's fifty day simple moving average is $4.30 and its 200-day simple moving average is $4.68.

Paramount Group (NYSE:PGRE - Get Free Report) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The firm had revenue of $186.27 million for the quarter, compared to analyst estimates of $180.41 million. On average, sell-side analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PGRE. Morgan Stanley reissued an "underweight" rating and issued a $3.25 target price on shares of Paramount Group in a research report on Tuesday. Mizuho lowered their target price on Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th.

Insider Transactions at Paramount Group

In other Paramount Group news, CEO Albert P. Behler purchased 10,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was bought at an average cost of $4.15 per share, with a total value of $41,500.00. Following the acquisition, the chief executive officer now directly owns 751,812 shares of the company's stock, valued at approximately $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 can be accessed through this link. Corporate 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.