Swedbank AB Increases Position in Paramount Group, Inc. (NYSE:PGRE)

Swedbank AB increased its holdings in Paramount Group, Inc. (NYSE:PGRE) by 25.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 142,466 shares of the financial services provider’s stock after purchasing an additional 28,650 shares during the quarter. Swedbank AB owned 0.07% of Paramount Group worth $701,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its stake in shares of Paramount Group by 22.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 72,920 shares of the financial services provider’s stock worth $359,000 after buying an additional 13,200 shares during the period. SG Americas Securities LLC acquired a new position in Paramount Group during the third quarter worth $136,000. Cubist Systematic Strategies LLC acquired a new position in Paramount Group during the second quarter worth $200,000. Algert Global LLC lifted its holdings in Paramount Group by 7.6% during the second quarter. Algert Global LLC now owns 320,253 shares of the financial services provider’s stock valued at $1,483,000 after purchasing an additional 22,738 shares in the last quarter. Finally, Long Pond Capital LP grew its position in shares of Paramount Group by 131.4% in the second quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock valued at $34,731,000 after purchasing an additional 4,259,635 shares during the period. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price target on shares of Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, Paramount Group currently has a consensus rating of “Hold” and a consensus price target of $4.38.

Paramount Group Stock Up 1.7 %

Shares of PGRE opened at $5.36 on Friday. The stock has a 50 day moving average price of $4.95 and a 200 day moving average price of $4.82. Paramount Group, Inc. has a one year low of $4.06 and a one year high of $5.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.47 and a beta of 1.25.

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.