Principal Financial Group Inc. Sells 5,228 Shares of Paramount Group, Inc. (NYSE:PGRE)

Principal Financial Group Inc. trimmed its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 28.9% in the third quarter, Holdings Channel.com reports. The fund owned 12,864 shares of the financial services provider’s stock after selling 5,228 shares during the quarter. Principal Financial Group Inc.’s holdings in Paramount Group were worth $63,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. bought a new position in Paramount Group during the 3rd quarter worth approximately $643,000. Geode Capital Management LLC increased its position in shares of Paramount Group by 7.9% during the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock worth $23,107,000 after buying an additional 345,450 shares during the period. Barclays PLC raised its stake in Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock worth $2,242,000 after buying an additional 222,656 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Paramount Group by 11.0% in the third quarter. Public Employees Retirement System of Ohio now owns 271,692 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 26,878 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Paramount Group by 13.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 236,200 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 28,900 shares during the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Trading Down 1.0 %

NYSE:PGRE opened at $4.92 on Wednesday. Paramount Group, Inc. has a 12 month low of $4.21 and a 12 month high of $5.47. 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 has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.02 and a beta of 1.22. The firm has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $4.93.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price objective on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

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.