Russell Investments Group Ltd. reduced its stake in Paramount Group Inc (NYSE:PGRE) by 17.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,231,320 shares of the financial services provider’s stock after selling 467,007 shares during the period. Russell Investments Group Ltd.’s holdings in Paramount Group were worth $29,761,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Long Pond Capital LP boosted its holdings in shares of Paramount Group by 30.3% in the 2nd quarter. Long Pond Capital LP now owns 8,181,308 shares of the financial services provider’s stock worth $114,620,000 after buying an additional 1,903,023 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Paramount Group by 26.9% during the second quarter. Renaissance Technologies LLC now owns 5,099,299 shares of the financial services provider’s stock valued at $71,441,000 after purchasing an additional 1,081,299 shares during the last quarter. Man Group plc lifted its holdings in Paramount Group by 2.6% during the second quarter. Man Group plc now owns 3,201,424 shares of the financial services provider’s stock valued at $44,852,000 after purchasing an additional 82,100 shares during the last quarter. Heitman Real Estate Securities LLC lifted its holdings in Paramount Group by 0.7% during the second quarter. Heitman Real Estate Securities LLC now owns 1,940,330 shares of the financial services provider’s stock valued at $27,184,000 after purchasing an additional 14,400 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Paramount Group by 141.5% during the second quarter. Nuveen Asset Management LLC now owns 1,514,333 shares of the financial services provider’s stock valued at $21,216,000 after purchasing an additional 887,291 shares during the last quarter. 61.06% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the stock. Morgan Stanley raised shares of Paramount Group from an “equal” rating to a “weight” rating and set a $15.00 price objective on the stock in a report on Friday, October 11th. ValuEngine downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised shares of Paramount Group from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, October 18th. Finally, Goldman Sachs Group assumed coverage on shares of Paramount Group in a report on Friday. They set a “sell” rating and a $13.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.00.

Shares of Paramount Group stock opened at $13.78 on Friday. Paramount Group Inc has a 12-month low of $12.18 and a 12-month high of $15.11. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 3.44 and a beta of 0.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $13.14 and its 200-day moving average price is $13.75.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.21). Paramount Group had a return on equity of 1.06% and a net margin of 6.77%. The firm had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $190.88 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Paramount Group Inc will post 0.95 earnings per share for the current year.

The company also recently declared a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.10 dividend. This represents a dividend yield of 3%. The ex-dividend date was Friday, September 27th. Paramount Group’s payout ratio is 41.67%.

Paramount Group Profile

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, Washington, DC and San Francisco.

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

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