Paramount Group, Inc. (NYSE:PGRE) Stake Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in Paramount Group, Inc. (NYSE:PGRE) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 99,156 shares of the financial services provider’s stock after purchasing an additional 4,197 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Paramount Group were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Centersquare Investment Management LLC raised its holdings in Paramount Group by 4.1% during the 1st quarter. Centersquare Investment Management LLC now owns 3,031,919 shares of the financial services provider’s stock worth $14,068,000 after buying an additional 119,590 shares during the period. Swedbank AB purchased a new position in Paramount Group during the 1st quarter valued at about $688,000. BNP Paribas Financial Markets grew its stake in Paramount Group by 17.7% during the 1st quarter. BNP Paribas Financial Markets now owns 111,072 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 16,717 shares in the last quarter. Quadrature Capital Ltd grew its stake in Paramount Group by 202.6% during the 4th quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 47,586 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Paramount Group by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 6,583 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their target price on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.70.

Paramount Group Trading Down 0.2 %

Shares of NYSE PGRE opened at $5.21 on Thursday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -4.49 and a beta of 1.25. The business has a 50 day simple moving average of $4.93 and a 200 day simple moving average of $4.81. Paramount Group, Inc. has a 52 week low of $4.06 and a 52 week high of $5.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.39 and a current ratio of 4.39.

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.