Verition Fund Management LLC Decreases Stake in Paramount Group, Inc. (NYSE:PGRE)

Verition Fund Management LLC trimmed its holdings in shares of Paramount Group, Inc. (NYSE:PGRE) by 43.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,661 shares of the financial services provider’s stock after selling 27,324 shares during the quarter. Verition Fund Management LLC’s holdings in Paramount Group were worth $175,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Martingale Asset Management L P grew its stake in Paramount Group by 3.1% in the third quarter. Martingale Asset Management L P now owns 247,309 shares of the financial services provider’s stock worth $1,217,000 after purchasing an additional 7,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Paramount Group by 398.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock worth $6,830,000 after buying an additional 1,109,485 shares during the last quarter. FMR LLC grew its position in shares of Paramount Group by 42.5% in the 3rd quarter. FMR LLC now owns 22,695 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 6,768 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Paramount Group by 14.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 59,856 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Swedbank AB raised its position in shares of Paramount Group by 25.2% during the 3rd quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 28,650 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Paramount Group Price Performance

PGRE opened at $4.93 on Tuesday. The firm has a market capitalization of $1.07 billion, a P/E ratio of -5.01 and a beta of 1.23. The stock has a fifty day moving average of $4.97 and a 200-day moving average of $4.90. 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, Inc. has a 12-month low of $4.21 and a 12-month high of $5.60.

About Paramount Group

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.