Charles Schwab Investment Management Inc. Sells 682,881 Shares of Paramount Group, Inc. (NYSE:PGRE)

Charles Schwab Investment Management Inc. lowered its position in Paramount Group, Inc. (NYSE:PGRE) by 17.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,270,697 shares of the financial services provider’s stock after selling 682,881 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Paramount Group were worth $16,157,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 443,777 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Paramount Group by 782.7% in the 3rd 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 buying an additional 316,399 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 345,450 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Paramount Group during the 3rd quarter worth about $643,000. Finally, Barclays PLC lifted its holdings in shares of Paramount Group by 95.5% during the 3rd 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 during the period. Institutional investors own 65.64% of the company’s stock.

Paramount Group Trading Up 1.6 %

Shares of Paramount Group stock opened at $4.22 on Friday. Paramount Group, Inc. has a 12-month low of $3.96 and a 12-month high of $5.47. The stock has a market capitalization of $916.88 million, a P/E ratio of -4.30 and a beta of 1.22. The company has a 50-day simple moving average of $4.53 and a 200 day simple moving average of $4.80. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE) last posted 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 company had revenue of $186.27 million during the quarter, compared to analyst estimates of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. Research analysts expect 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 lowered 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.

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.