D. E. Shaw & Co. Inc. Reduces Holdings in Paramount Group, Inc. (NYSE:PGRE)

D. E. Shaw & Co. Inc. decreased its position in Paramount Group, Inc. (NYSE:PGRE) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 847,017 shares of the financial services provider’s stock after selling 119,246 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Paramount Group were worth $4,184,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Paramount Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock valued at $132,999,000 after buying an additional 477,940 shares during the period. Long Pond Capital LP grew its stake in shares of Paramount Group by 12.5% in the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock valued at $49,663,000 after buying an additional 1,116,395 shares during the period. Legal & General Group Plc boosted its position in shares of Paramount Group by 2.9% during the 4th quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider’s stock worth $24,011,000 after purchasing an additional 135,654 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Paramount Group by 11.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock worth $14,304,000 after purchasing an additional 292,392 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Paramount Group by 40.1% during the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock worth $14,282,000 after purchasing an additional 827,187 shares during the period. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Insiders Place Their Bets

In other Paramount Group news, CEO Albert P. Behler bought 10,000 shares of Paramount Group stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the acquisition, the chief executive officer now directly owns 751,812 shares in the company, valued at $3,120,019.80. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PGRE has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $3.25 price objective on shares of Paramount Group in a research report on Tuesday, April 15th. StockNews.com cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Finally, Mizuho lowered their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th.

Paramount Group Price Performance

Paramount Group stock opened at $4.79 on Friday. The firm has a market cap of $1.05 billion, a PE ratio of -4.88 and a beta of 1.12. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $5.47. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $4.29 and its two-hundred day moving average is $4.60.

Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $187.02 million for the quarter, compared to analyst estimates of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. On average, research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Paramount Group Company Profile

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.