Wolverine Asset Management LLC increased its stake in shares of Paramount Group Inc (NYSE:PGRE) by 196.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,471 shares of the financial services provider’s stock after acquiring an additional 52,655 shares during the quarter. Wolverine Asset Management LLC’s holdings in Paramount Group were worth $1,259,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Jefferies Group LLC bought a new position in Paramount Group during the fourth quarter worth $653,000. AMP Capital Investors Ltd increased its holdings in Paramount Group by 35.5% in the 4th quarter. AMP Capital Investors Ltd now owns 108,429 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 28,410 shares during the period. Renaissance Technologies LLC bought a new stake in Paramount Group in the 4th quarter valued at $3,787,000. HGI Capital Management LLC increased its holdings in Paramount Group by 23.1% in the 4th quarter. HGI Capital Management LLC now owns 353,094 shares of the financial services provider’s stock valued at $5,597,000 after buying an additional 66,293 shares during the period. Finally, Long Pond Capital LP increased its holdings in Paramount Group by 2.2% in the 4th quarter. Long Pond Capital LP now owns 14,921,426 shares of the financial services provider’s stock valued at $236,505,000 after buying an additional 315,221 shares during the period. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Paramount Group Inc (NYSE:PGRE) opened at $14.69 on Tuesday. The stock has a market cap of $3,474.18, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 3.60 and a beta of 0.72. Paramount Group Inc has a fifty-two week low of $13.70 and a fifty-two week high of $17.25.
Several equities research analysts have issued reports on the stock. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a report on Thursday, November 16th. Mizuho reissued a “sell” rating and issued a $14.00 price target on shares of Paramount Group in a report on Friday, February 23rd. Zacks Investment Research lowered shares of Paramount Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, Goldman Sachs Group raised shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price target on the stock in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Paramount Group currently has a consensus rating of “Hold” and a consensus price target of $16.40.
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Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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