546,715 Shares in Paramount Group, Inc. (NYSE:PGRE) Bought by Norges Bank

Norges Bank purchased a new stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 546,715 shares of the financial services provider's stock, valued at approximately $2,701,000. Norges Bank owned 0.25% of Paramount Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in PGRE. Quadrature Capital Ltd increased its holdings in shares of Paramount Group by 19.4% in the 3rd quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 2,864 shares during the period. Metis Global Partners LLC lifted its stake in Paramount Group by 16.3% during the 4th quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 2,935 shares during the period. US Bancorp DE grew its position in Paramount Group by 33.9% during the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider's stock worth $72,000 after purchasing an additional 3,708 shares during the period. Xponance Inc. raised its position in Paramount Group by 54.8% during the fourth quarter. Xponance Inc. now owns 18,519 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 6,554 shares in the last quarter. Finally, FMR LLC boosted its holdings in Paramount Group by 42.5% during the third quarter. FMR LLC now owns 22,695 shares of the financial services provider's stock worth $112,000 after buying an additional 6,768 shares in the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Trading Up 1.1 %

Paramount Group stock traded up $0.05 during mid-day trading on Wednesday, hitting $4.15. The company's stock had a trading volume of 382,568 shares, compared to its average volume of 1,119,050. The firm has a market capitalization of $908.69 million, a PE ratio of -4.23 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. Paramount Group, Inc. has a 1 year low of $3.56 and a 1 year high of $5.47. The stock's fifty day moving average is $4.32 and its two-hundred day moving average is $4.69.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $180.41 million. On average, analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current year.

Insider Activity

In related news, CEO Albert P. Behler bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was purchased 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 trade represents a 1.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PGRE. Mizuho dropped their price objective on Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Morgan Stanley reissued an "underweight" rating and issued a $3.25 target price on shares of Paramount Group in a research note on Tuesday.

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.