Russell Investments Group Ltd. Sells 467,007 Shares of Paramount Group Inc (NYSE:PGRE)

Russell Investments Group Ltd. cut its stake in shares of Paramount Group Inc (NYSE:PGRE) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,231,320 shares of the financial services provider’s stock after selling 467,007 shares during the quarter. Russell Investments Group Ltd. owned 0.95% of Paramount Group worth $29,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in PGRE. Quantamental Technologies LLC boosted its position in Paramount Group by 6.0% during the 2nd quarter. Quantamental Technologies LLC now owns 14,115 shares of the financial services provider’s stock worth $198,000 after buying an additional 799 shares during the period. Daiwa Securities Group Inc. boosted its position in Paramount Group by 5.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 34,400 shares of the financial services provider’s stock worth $482,000 after buying an additional 1,800 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Paramount Group by 6.6% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,294 shares of the financial services provider’s stock worth $565,000 after buying an additional 2,509 shares during the period. Exane Derivatives boosted its position in Paramount Group by 18.6% during the 3rd quarter. Exane Derivatives now owns 16,339 shares of the financial services provider’s stock worth $218,000 after buying an additional 2,561 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Paramount Group by 8.2% during the 2nd quarter. Pictet Asset Management Ltd. now owns 36,800 shares of the financial services provider’s stock worth $516,000 after buying an additional 2,800 shares during the period. 61.06% of the stock is currently owned by institutional investors.

Several research firms recently commented on PGRE. Goldman Sachs Group began coverage on shares of Paramount Group in a research report on Friday. They set a “sell” rating and a $13.00 target price on the stock. ValuEngine downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, October 18th. Finally, Morgan Stanley upgraded shares of Paramount Group from an “equal” rating to a “weight” rating and set a $15.00 target price on the stock in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.00.

Shares of NYSE PGRE opened at $13.78 on Friday. The company has a market capitalization of $3.13 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77. Paramount Group Inc has a 52-week low of $12.18 and a 52-week high of $15.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50 day moving average price is $13.14 and its 200-day moving average price is $13.75.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.21). The firm had revenue of $198.32 million during the quarter, compared to analyst estimates of $190.88 million. Paramount Group had a return on equity of 1.06% and a net margin of 6.77%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. Analysts forecast that Paramount Group Inc will post 0.95 earnings per share for the current year.

The company also recently declared a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 3%. Paramount Group’s dividend payout ratio (DPR) is currently 41.67%.

Paramount Group Profile

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.

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

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