Vanguard Group Inc. Cuts Stock Holdings in Paramount Group, Inc. (NYSE:PGRE)

Vanguard Group Inc. lowered its stake in shares of Paramount Group, Inc. (NYSE:PGREFree Report) by 0.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,555,426 shares of the financial services provider’s stock after selling 61,462 shares during the quarter. Vanguard Group Inc. owned 0.12% of Paramount Group worth $118,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in Paramount Group by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,378,173 shares of the financial services provider’s stock worth $15,035,000 after acquiring an additional 5,625 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Paramount Group during the first quarter valued at about $478,000. Bank of Montreal Can boosted its holdings in Paramount Group by 73.3% during the first quarter. Bank of Montreal Can now owns 22,054 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 9,328 shares during the last quarter. MetLife Investment Management LLC grew its position in Paramount Group by 38.6% in the 1st quarter. MetLife Investment Management LLC now owns 89,089 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 24,820 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Paramount Group by 5.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 154,534 shares of the financial services provider’s stock valued at $1,755,000 after buying an additional 8,224 shares during the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Trading Up 1.8 %

Shares of PGRE stock opened at $4.53 on Thursday. The company has a 50 day moving average of $4.63 and a 200-day moving average of $4.74. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.95. Paramount Group, Inc. has a 12-month low of $4.06 and a 12-month high of $5.92. The firm has a market cap of $984.50 million, a P/E ratio of -3.77, a PEG ratio of 0.24 and a beta of 1.22.

Paramount Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.14 annualized dividend and a dividend yield of 3.09%. Paramount Group’s payout ratio is currently -11.67%.

Wall Street Analyst Weigh In

PGRE has been the topic of several recent analyst reports. Evercore ISI raised shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price on the stock in a research report on Monday, March 18th. StockNews.com cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Finally, Morgan Stanley dropped their target price on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paramount Group currently has an average rating of “Hold” and an average target price of $4.60.

View Our Latest Analysis on PGRE

About Paramount Group

(Free Report)

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.

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

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