Prudential Financial Inc. Purchases 266,300 Shares of Paramount Group, Inc. (NYSE:PGRE)

Prudential Financial Inc. lifted its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 21.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,484,866 shares of the financial services provider’s stock after acquiring an additional 266,300 shares during the quarter. Prudential Financial Inc. owned approximately 0.68% of Paramount Group worth $7,335,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Paramount Group by 21.4% during the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock worth $12,388,000 after purchasing an additional 443,777 shares during the period. Geode Capital Management LLC boosted its holdings in Paramount Group by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock worth $23,107,000 after buying an additional 345,450 shares during the period. Franklin Resources Inc. purchased a new position in Paramount Group in the 3rd quarter valued at approximately $643,000. Barclays PLC lifted its position 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Paramount Group by 398.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock worth $6,830,000 after acquiring an additional 1,109,485 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PGRE. Morgan Stanley decreased their price objective on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Mizuho decreased their price target on Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th.

Paramount Group Trading Down 0.4 %

Shares of PGRE stock opened at $4.25 on Friday. The company has a market capitalization of $923.41 million, a PE ratio of -4.33 and a beta of 1.22. Paramount Group, Inc. has a 52-week low of $3.96 and a 52-week high of $5.47. The business’s fifty day moving average is $4.48 and its 200 day moving average is $4.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $186.27 million for the quarter, compared to analysts’ expectations of $180.41 million. On average, equities research analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Albert P. Behler acquired 10,000 shares of the stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the transaction, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. This represents a 1.35 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.50% of the company’s stock.

About Paramount Group

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.