Franklin Resources Inc. Purchases New Shares in Paramount Group, Inc. (NYSE:PGRE)

Franklin Resources Inc. acquired a new position in Paramount Group, Inc. (NYSE:PGRE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 127,397 shares of the financial services provider’s stock, valued at approximately $643,000.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position 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 valued at $23,107,000 after acquiring an additional 345,450 shares in the last quarter. Barclays PLC increased its holdings in shares of Paramount Group by 95.5% in the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after purchasing an additional 222,656 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Paramount Group by 11.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 271,692 shares of the financial services provider’s stock worth $1,337,000 after purchasing an additional 26,878 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Paramount Group by 13.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 236,200 shares of the financial services provider’s stock worth $1,162,000 after buying an additional 28,900 shares in the last quarter. Finally, Zacks Investment Management bought a new position in Paramount Group in the 3rd quarter valued at $122,000. Institutional investors own 65.64% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their target price on Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th.

Paramount Group Stock Down 0.6 %

Shares of NYSE:PGRE opened at $4.82 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -4.92 and a beta of 1.23. The company has a 50 day moving average of $4.92 and a 200-day moving average of $4.92. Paramount Group, Inc. has a one year low of $4.21 and a one year high of $5.47.

Paramount Group 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.