Prudential Financial Inc. Boosts Holdings in Paramount Group, Inc. (NYSE:PGRE)

Prudential Financial Inc. increased its holdings in Paramount Group, Inc. (NYSE:PGRE) by 21.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,484,866 shares of the financial services provider’s stock after purchasing an additional 266,300 shares during the period. Prudential Financial Inc.’s holdings in Paramount Group were worth $7,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in Paramount Group by 226.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 4,950 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Paramount Group during the 3rd quarter valued at about $37,000. Greenleaf Trust bought a new position in Paramount Group during the 4th quarter worth approximately $63,000. Quantinno Capital Management LP purchased a new position in Paramount Group in the 3rd quarter worth approximately $64,000. Finally, US Bancorp DE lifted its position in Paramount Group by 33.9% in the fourth quarter. US Bancorp DE now owns 14,656 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 3,708 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of 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 decreased their price objective on shares of Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th.

Paramount Group Price Performance

Shares of PGRE stock opened at $4.25 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The firm has a market cap of $923.41 million, a P/E ratio of -4.33 and a beta of 1.22. The business’s 50 day moving average price is $4.48 and its 200-day moving average price is $4.77. Paramount Group, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $5.47.

Paramount Group (NYSE:PGRE) last released its quarterly 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 business had revenue of $186.27 million for the quarter, compared to analysts’ expectations of $180.41 million. On average, equities research analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction that occurred on Friday, March 21st. The shares were 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 directly owns 751,812 shares in the company, valued at approximately $3,120,019.80. This trade represents a 1.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.50% of the stock is owned by insiders.

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.