Schwab Charles Investment Management Inc. boosted its stake in Paramount Group Inc (NYSE:PGRE) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,176,239 shares of the financial services provider’s stock after purchasing an additional 287,309 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.91% of Paramount Group worth $34,820,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in Paramount Group by 104.0% in the 3rd quarter. Wells Fargo & Company MN now owns 81,314 shares of the financial services provider’s stock valued at $1,301,000 after purchasing an additional 41,456 shares in the last quarter. Twin Capital Management Inc. increased its holdings in Paramount Group by 22.0% in the 3rd quarter. Twin Capital Management Inc. now owns 206,640 shares of the financial services provider’s stock valued at $3,306,000 after purchasing an additional 37,300 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Paramount Group in the 3rd quarter valued at $862,000. Virginia Retirement Systems ET AL increased its holdings in Paramount Group by 123.4% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 91,800 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 50,700 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Paramount Group by 8.7% in the 3rd quarter. Legal & General Group Plc now owns 1,297,767 shares of the financial services provider’s stock valued at $20,765,000 after purchasing an additional 103,363 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.
Shares of Paramount Group Inc (NYSE PGRE) opened at $15.74 on Friday. The firm has a market capitalization of $3,778.76, a PE ratio of 18.52, a PEG ratio of 3.38 and a beta of 0.80. Paramount Group Inc has a 52 week low of $15.14 and a 52 week high of $17.58.
Paramount Group (NYSE:PGRE) last announced its earnings results on Monday, November 6th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $179.80 million during the quarter, compared to the consensus estimate of $172.85 million. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. research analysts forecast that Paramount Group Inc will post 0.9 EPS for the current fiscal year.
PGRE has been the subject of several recent research reports. Zacks Investment Research upgraded Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday, November 15th. TheStreet downgraded Paramount Group from a “c” rating to a “d+” rating in a report on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.40.
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Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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