Point72 Hong Kong Ltd Buys 8,925 Shares of Paramount Group Inc (NYSE:PGRE)

Point72 Hong Kong Ltd boosted its stake in Paramount Group Inc (NYSE:PGRE) by 93.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,442 shares of the financial services provider’s stock after purchasing an additional 8,925 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Paramount Group were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp increased its position in shares of Paramount Group by 1.6% during the 3rd quarter. State Street Corp now owns 7,749,682 shares of the financial services provider’s stock valued at $104,225,000 after purchasing an additional 118,389 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Paramount Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,983,830 shares of the financial services provider’s stock worth $55,455,000 after buying an additional 107,159 shares in the last quarter. Presima Inc. grew its position in Paramount Group by 11.7% during the fourth quarter. Presima Inc. now owns 3,805,300 shares of the financial services provider’s stock valued at $52,970,000 after acquiring an additional 399,900 shares during the last quarter. Prudential Financial Inc. grew its position in Paramount Group by 159.3% during the fourth quarter. Prudential Financial Inc. now owns 1,593,942 shares of the financial services provider’s stock valued at $22,187,000 after acquiring an additional 979,193 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Paramount Group by 4.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,467,319 shares of the financial services provider’s stock worth $20,425,000 after acquiring an additional 63,600 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Paramount Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Zacks Investment Research raised shares of Paramount Group from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, December 12th. Mizuho began coverage on shares of Paramount Group in a research note on Monday, February 3rd. They issued a “neutral” rating and a $15.00 price target for the company. Finally, BTIG Research upgraded shares of Paramount Group from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.20.

Paramount Group stock traded up $0.73 during trading hours on Thursday, reaching $8.80. The company had a trading volume of 3,911,330 shares, compared to its average volume of 2,208,346. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.27 and a quick ratio of 2.27. Paramount Group Inc has a 12-month low of $6.42 and a 12-month high of $15.11. The company has a 50-day moving average price of $12.00 and a 200 day moving average price of $13.15. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -55.00, a P/E/G ratio of 2.04 and a beta of 0.94.

Paramount Group (NYSE:PGRE) last issued its earnings results on Wednesday, February 12th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.47). Paramount Group had a negative return on equity of 0.72% and a negative net margin of 4.44%. The firm had revenue of $190.49 million during the quarter, compared to the consensus estimate of $199.00 million. As a group, research analysts expect that Paramount Group Inc will post 0.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.40 annualized dividend and a yield of 4.55%. Paramount Group’s payout ratio is currently 40.82%.

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, Washington, DC and San Francisco.

Read More: What are retained earnings?

Want to see what other hedge funds are holding PGRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Group Inc (NYSE:PGRE).

Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.