Swedbank AB Sells 32,935 Shares of Paramount Group, Inc. (NYSE:PGRE)

Swedbank AB decreased its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 22.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 113,816 shares of the financial services provider’s stock after selling 32,935 shares during the period. Swedbank AB’s holdings in Paramount Group were worth $527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC grew its holdings in Paramount Group by 785.9% during the fourth quarter. Manchester Capital Management LLC now owns 5,076 shares of the financial services provider’s stock worth $26,000 after buying an additional 4,503 shares in the last quarter. Metis Global Partners LLC bought a new stake in Paramount Group during the fourth quarter worth $58,000. Great Lakes Advisors LLC bought a new stake in Paramount Group during the fourth quarter worth $85,000. Team Hewins LLC bought a new stake in Paramount Group during the fourth quarter worth $112,000. Finally, Jump Financial LLC bought a new position in Paramount Group in the 4th quarter valued at $128,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

Shares of Paramount Group stock opened at $4.80 on Monday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $1.04 billion, a PE ratio of -4.14, a price-to-earnings-growth ratio of 0.23 and a beta of 1.25. The business’s 50-day moving average price is $4.83 and its 200-day moving average price is $4.70. Paramount Group, Inc. has a 12 month low of $4.06 and a 12 month high of $5.92.

Paramount Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.14 annualized dividend and a yield of 2.92%. Paramount Group’s payout ratio is -12.07%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.60.

Paramount Group 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.