Nuveen Asset Management LLC raised its holdings in shares of Paramount Group, Inc. (NYSE:PGRE – Get Rating) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,889,228 shares of the financial services provider’s stock after purchasing an additional 73,580 shares during the period. Nuveen Asset Management LLC owned 1.31% of Paramount Group worth $18,000,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Wipfli Financial Advisors LLC acquired a new position in Paramount Group during the 3rd quarter valued at about $43,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Paramount Group in the 2nd quarter valued at approximately $52,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Paramount Group in the 2nd quarter valued at approximately $73,000. Jane Street Group LLC acquired a new stake in shares of Paramount Group in the 2nd quarter valued at approximately $88,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Paramount Group in the 3rd quarter valued at approximately $92,000. 59.17% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Paramount Group
In other Paramount Group news, CEO Albert P. Behler purchased 40,000 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The stock was bought at an average cost of $5.75 per share, with a total value of $230,000.00. Following the purchase, the chief executive officer now directly owns 171,812 shares of the company’s stock, valued at $987,919. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Albert P. Behler bought 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 7th. The stock was acquired at an average cost of $5.75 per share, with a total value of $230,000.00. Following the completion of the purchase, the chief executive officer now owns 171,812 shares of the company’s stock, valued at $987,919. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Albert P. Behler bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The stock was purchased at an average cost of $5.43 per share, with a total value of $108,600.00. Following the completion of the purchase, the chief executive officer now directly owns 221,812 shares of the company’s stock, valued at approximately $1,204,439.16. The disclosure for this purchase can be found here. Insiders acquired 80,000 shares of company stock valued at $452,800 in the last ninety days. 10.40% of the stock is currently owned by corporate insiders.
Paramount Group Price Performance
Paramount Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a dividend of $0.078 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.31 annualized dividend and a dividend yield of 5.92%. Paramount Group’s dividend payout ratio is currently -193.74%.
Analyst Ratings Changes
A number of analysts recently weighed in on PGRE shares. StockNews.com upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. Bank of America started coverage on shares of Paramount Group in a research report on Wednesday. They issued a “neutral” rating and a $5.50 price target on the stock. Evercore ISI downgraded shares of Paramount Group from an “in-line” rating to an “underperform” rating and cut their price target for the company from $8.00 to $6.50 in a research report on Monday, November 21st. Mizuho lowered their target price on Paramount Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, January 4th. Finally, Morgan Stanley cut Paramount Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $8.00 to $6.50 in a research note on Wednesday, November 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Paramount Group presently has an average rating of “Hold” and an average target price of $6.42.
About Paramount Group
Paramount Group, Inc is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. The company operates through the New York and San Francisco segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.
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