Victory Capital Management Inc. lifted its position in Paramount Group, Inc. (NYSE:PGRE – Free Report) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,758 shares of the financial services provider’s stock after acquiring an additional 12,333 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Paramount Group worth $761,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of Paramount Group by 78.6% in the 2nd quarter. Creative Planning now owns 48,996 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 21,555 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Paramount Group by 15.7% during the 2nd quarter. Nordea Investment Management AB now owns 869,323 shares of the financial services provider’s stock valued at $3,947,000 after buying an additional 118,021 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Paramount Group during the 1st quarter valued at about $274,000. State Street Corp lifted its holdings in Paramount Group by 1.0% during the 1st quarter. State Street Corp now owns 9,505,644 shares of the financial services provider’s stock valued at $44,059,000 after buying an additional 95,800 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Paramount Group by 17.5% during the 1st quarter. First Trust Advisors LP now owns 558,902 shares of the financial services provider’s stock valued at $2,549,000 after buying an additional 83,059 shares in the last quarter. Institutional investors own 59.93% of the company’s stock.
Paramount Group Stock Down 0.6 %
Shares of Paramount Group stock opened at $4.26 on Thursday. The firm’s 50 day moving average price is $4.71 and its 200-day moving average price is $4.66. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.88. Paramount Group, Inc. has a 52-week low of $3.90 and a 52-week high of $6.85. The company has a market cap of $924.65 million, a P/E ratio of -10.91 and a beta of 1.21.
Paramount Group Announces Dividend
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on PGRE. Morgan Stanley reiterated an “equal weight” rating and set a $4.50 price objective on shares of Paramount Group in a report on Wednesday, July 19th. StockNews.com started coverage on shares of Paramount Group in a report on Thursday, October 5th. They set a “sell” rating for the company. Mizuho reduced their price target on shares of Paramount Group from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. Wells Fargo & Company boosted their price target on shares of Paramount Group from $3.00 to $3.50 and gave the company an “underweight” rating in a report on Wednesday, August 30th. Finally, Evercore ISI reduced their price target on shares of Paramount Group from $5.00 to $4.00 in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Paramount Group presently has a consensus rating of “Hold” and a consensus target price of $4.70.
About Paramount Group
Headquartered in New York City, Paramount Group, Inc 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 City 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.
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