Paramount Group Inc (NYSE:PGRE) major shareholder Alexander Otto sold 16,487 shares of Paramount Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $13.49, for a total transaction of $222,409.63. Following the transaction, the insider now owns 13,656,206 shares in the company, valued at approximately $184,222,218.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

PGRE opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.88 and a current ratio of 2.88. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 3.68 and a beta of 0.77. The company has a fifty day moving average of $13.38 and a 200 day moving average of $13.64. Paramount Group Inc has a fifty-two week low of $12.18 and a fifty-two week high of $15.11.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.21). The company had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $190.88 million. Paramount Group had a return on equity of 0.44% and a net margin of 2.77%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Paramount Group Inc will post 0.97 earnings per share for the current year.

A number of equities research analysts have issued reports on PGRE shares. ValuEngine upgraded Paramount Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut Paramount Group from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Morgan Stanley raised Paramount Group from an “equal” rating to a “weight” rating and set a $15.00 price target on the stock in a report on Friday, October 11th. Finally, Goldman Sachs Group started coverage on Paramount Group in a research note on Friday, November 8th. They issued a “sell” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Paramount Group presently has a consensus rating of “Hold” and an average target price of $14.33.

Several large investors have recently bought and sold shares of PGRE. Long Pond Capital LP grew its holdings in Paramount Group by 30.3% during the 2nd quarter. Long Pond Capital LP now owns 8,181,308 shares of the financial services provider’s stock valued at $114,620,000 after buying an additional 1,903,023 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Paramount Group by 26.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,099,299 shares of the financial services provider’s stock valued at $71,441,000 after acquiring an additional 1,081,299 shares during the last quarter. Crestline Management LP purchased a new position in shares of Paramount Group in the second quarter valued at $13,353,000. Nuveen Asset Management LLC grew its holdings in shares of Paramount Group by 141.5% in 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 in the last quarter. Finally, Millennium Management LLC increased its position in Paramount Group by 969.3% in the third quarter. Millennium Management LLC now owns 958,780 shares of the financial services provider’s stock worth $12,799,000 after purchasing an additional 869,117 shares during the last quarter. Institutional investors own 62.90% of the company’s stock.

About Paramount Group

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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