Great Lakes Advisors LLC Takes $92,000 Position in Paramount Group, Inc. (NYSE:PGRE)

Great Lakes Advisors LLC bought a new stake in Paramount Group, Inc. (NYSE:PGRE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,548 shares of the financial services provider’s stock, valued at approximately $92,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Paramount Group by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock valued at $12,388,000 after purchasing an additional 443,777 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Paramount Group by 782.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock worth $1,756,000 after acquiring an additional 316,399 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Paramount Group by 7.9% during the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock worth $23,107,000 after acquiring an additional 345,450 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Paramount Group during the third quarter worth $643,000. Finally, Barclays PLC raised its holdings in shares of Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock worth $2,242,000 after acquiring an additional 222,656 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

Shares of NYSE:PGRE opened at $4.12 on Tuesday. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The firm has a market cap of $895.13 million, a price-to-earnings ratio of -4.20 and a beta of 1.22. Paramount Group, Inc. has a 1 year low of $3.96 and a 1 year high of $5.47. The business has a fifty day simple moving average of $4.57 and a 200 day simple moving average of $4.82.

Paramount Group (NYSE:PGRE) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $186.27 million for the quarter, compared to the consensus estimate of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. As a group, sell-side analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Mizuho cut their price objective on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.63.

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.