Adero Partners LLC Makes New Investment in Paramount Group, Inc. (NYSE:PGRE)

Adero Partners LLC purchased a new stake in shares of Paramount Group, Inc. (NYSE:PGRE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,466 shares of the financial services provider’s stock, valued at approximately $67,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quantinno Capital Management LP increased its holdings in Paramount Group by 22.0% in the 4th quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 2,845 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Paramount Group by 16.3% during the fourth quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider’s stock worth $104,000 after buying an additional 2,935 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Paramount Group by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 239,200 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 3,000 shares during the period. Nebula Research & Development LLC raised its holdings in shares of Paramount Group by 7.0% in the 4th quarter. Nebula Research & Development LLC now owns 54,852 shares of the financial services provider’s stock valued at $271,000 after buying an additional 3,611 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Paramount Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,005 shares of the financial services provider’s stock valued at $519,000 after buying an additional 3,673 shares during the period. 65.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho lowered their target price on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Morgan Stanley reissued an “underweight” rating and issued a $3.25 price objective on shares of Paramount Group in a research note on Tuesday, April 15th. Wells Fargo & Company cut their target price on shares of Paramount Group from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Monday, May 19th. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Insider Transactions at Paramount Group

In other Paramount Group news, CEO Albert P. Behler acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the acquisition, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. The trade was a 1.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Paramount Group Stock Performance

Shares of Paramount Group stock opened at $6.47 on Tuesday. The business has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $4.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. Paramount Group, Inc. has a one year low of $3.75 and a one year high of $6.62. The company has a market cap of $1.42 billion, a PE ratio of -6.61 and a beta of 1.32.

Paramount Group (NYSE:PGRE) last issued its quarterly 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. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The company had revenue of $187.02 million during the quarter, compared to the consensus estimate of $180.79 million. On average, equities research analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current fiscal 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.