Northern Trust Corp increased its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 40.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,891,068 shares of the financial services provider's stock after purchasing an additional 827,187 shares during the period. Northern Trust Corp owned about 1.33% of Paramount Group worth $14,282,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. purchased a new stake in Paramount Group in the 4th quarter worth approximately $9,231,000. Long Pond Capital LP lifted its position in Paramount Group by 12.5% in the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider's stock worth $49,663,000 after buying an additional 1,116,395 shares in the last quarter. Norges Bank purchased a new stake in Paramount Group in the 4th quarter worth approximately $2,701,000. Vanguard Group Inc. lifted its position 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 worth $132,999,000 after buying an additional 477,940 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Paramount Group by 11.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider's stock worth $14,304,000 after buying an additional 292,392 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company's stock.
Insider Activity at Paramount Group
In related news, CEO Albert P. Behler bought 10,000 shares of the company'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 completion of the purchase, the chief executive officer now owns 751,812 shares in the company, valued at approximately $3,120,019.80. The trade was a 1.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.80% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on PGRE shares. Mizuho cut their target price on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley restated an "underweight" rating and set a $3.25 price target on shares of Paramount Group in a report on Tuesday, April 15th. Finally, StockNews.com downgraded shares of Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd.
Check Out Our Latest Stock Report on Paramount Group
Paramount Group Trading Up 2.8%
Shares of PGRE stock opened at $4.75 on Friday. Paramount Group, Inc. has a 12-month low of $3.75 and a 12-month high of $5.47. The company has a market capitalization of $1.04 billion, a P/E ratio of -4.85 and a beta of 1.12. The firm has a 50-day moving average price of $4.28 and a 200 day moving average price of $4.60. 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 (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 (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $180.79 million. Research analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.
Paramount Group Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PGRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Group, Inc. (NYSE:PGRE - Free Report).
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