MetLife Investment Management LLC Lowers Stock Position in Paramount Group, Inc. $PGRE

MetLife Investment Management LLC reduced its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,917 shares of the financial services provider’s stock after selling 5,255 shares during the period. MetLife Investment Management LLC’s holdings in Paramount Group were worth $447,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in Paramount Group by 222.1% in the 1st quarter. American Century Companies Inc. now owns 49,749 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 34,306 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in Paramount Group by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 80,150 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 7,413 shares in the last quarter. Nuveen LLC purchased a new position in Paramount Group in the 1st quarter worth approximately $6,096,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Paramount Group by 5.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 669,362 shares of the financial services provider’s stock worth $2,878,000 after purchasing an additional 31,978 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in Paramount Group by 86.6% in the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 5,659 shares in the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PGRE. Mizuho boosted their price target on Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Evercore ISI raised Paramount Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $4.50 to $8.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company lowered their price target on Paramount Group from $4.50 to $4.20 and set an “underweight” rating on the stock in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.36.

Paramount Group Trading Up 2.0%

PGRE opened at $7.55 on Monday. The firm has a market cap of $1.66 billion, a P/E ratio of -20.96 and a beta of 1.38. Paramount Group, Inc. has a 12 month low of $3.75 and a 12 month high of $7.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $6.58 and a 200 day moving average of $5.49.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $177.05 million during the quarter, compared to analyst estimates of $173.98 million. Paramount Group had a negative return on equity of 1.92% and a negative net margin of 10.49%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, research analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current year.

About Paramount Group

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.