Pictet Asset Management SA Has $532,000 Stock Holdings in Paramount Group, Inc. (NYSE:PGRE)

Pictet Asset Management SA raised its holdings in Paramount Group, Inc. (NYSE:PGREGet Rating) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,625 shares of the financial services provider’s stock after purchasing an additional 6,645 shares during the quarter. Pictet Asset Management SA’s holdings in Paramount Group were worth $532,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Mackenzie Financial Corp boosted its holdings in shares of Paramount Group by 3.2% in the 1st quarter. Mackenzie Financial Corp now owns 39,466 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 1,229 shares in the last quarter. abrdn plc lifted its stake in shares of Paramount Group by 3.2% in the 1st quarter. abrdn plc now owns 41,421 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 1,303 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Paramount Group by 10.7% in the 1st quarter. M&T Bank Corp now owns 17,661 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 1,707 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Paramount Group by 6.3% in the 1st quarter. Teacher Retirement System of Texas now owns 36,175 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 2,147 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its stake in shares of Paramount Group by 12.3% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 19,818 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 2,170 shares during the last quarter. Institutional investors and hedge funds own 59.20% of the company’s stock.

Paramount Group Stock Down 1.7 %

Shares of NYSE:PGRE opened at $6.26 on Thursday. The firm has a market cap of $1.38 billion, a P/E ratio of 313.16 and a beta of 1.16. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.87. Paramount Group, Inc. has a 12-month low of $5.78 and a 12-month high of $11.53. The business has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $7.28.

Paramount Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a dividend of $0.078 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.31 dividend on an annualized basis and a yield of 4.98%. Paramount Group’s payout ratio is currently 1,550.78%.

Wall Street Analysts Forecast Growth

PGRE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Paramount Group from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 13th. Mizuho dropped their price target on Paramount Group from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. TheStreet cut Paramount Group from a “c” rating to a “d+” rating in a research note on Wednesday, July 27th. Evercore ISI cut Paramount Group from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $8.00 to $6.50 in a research note on Monday. Finally, StockNews.com started coverage on Paramount Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.80.

Paramount Group Company Profile

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Headquartered in New York City, Paramount Group, Inc 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 City 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.

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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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