Amundi Sells 3,385 Shares of Paramount Group, Inc. (NYSE:PGRE)

Amundi lowered its holdings in Paramount Group, Inc. (NYSE:PGRE) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 96,605 shares of the financial services provider’s stock after selling 3,385 shares during the period. Amundi’s holdings in Paramount Group were worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Paramount Group by 7.9% in the third 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 during the period. JPMorgan Chase & Co. increased its stake in Paramount Group by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock valued at $12,388,000 after acquiring an additional 443,777 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Paramount Group by 398.0% in 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 valued at $6,830,000 after acquiring an additional 1,109,485 shares during the period. Barclays PLC increased its stake in 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 acquiring an additional 222,656 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Paramount Group by 782.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock valued at $1,756,000 after acquiring an additional 316,399 shares during the period. Institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

Shares of Paramount Group stock opened at $4.22 on Friday. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $916.88 million, a price-to-earnings ratio of -4.30 and a beta of 1.22. Paramount Group, Inc. has a 1-year low of $3.96 and a 1-year high of $5.47. The firm’s 50-day moving average price is $4.53 and its two-hundred day moving average price is $4.80.

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

Wall Street Analysts Forecast Growth

PGRE has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley decreased their price objective on shares of Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

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.