Jupiter Asset Management Ltd. Has $19.93 Million Stock Holdings in Paramount Group, Inc. $PGRE

Jupiter Asset Management Ltd. decreased its position in Paramount Group, Inc. (NYSE:PGRE) by 55.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,266,376 shares of the financial services provider’s stock after selling 4,122,773 shares during the period. Jupiter Asset Management Ltd.’s holdings in Paramount Group were worth $19,925,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PGRE. Signaturefd LLC raised its stake in Paramount Group by 101.0% during the 2nd quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock worth $51,000 after buying an additional 4,167 shares during the period. Manchester Capital Management LLC grew its stake in Paramount Group by 99.2% in the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 4,415 shares during the period. Truist Financial Corp bought a new stake in shares of Paramount Group in the second quarter worth about $67,000. Wolverine Asset Management LLC raised its position in shares of Paramount Group by 86.6% during the first quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 5,659 shares during the period. Finally, Ethic Inc. acquired a new stake in shares of Paramount Group during the second quarter worth about $76,000. Institutional investors own 65.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Group in a research report on Wednesday, October 8th. BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $4.20 to $6.60 in a report on Thursday, September 18th. Evercore ISI set a $6.60 price objective on shares of Paramount Group and gave the stock an “in-line” rating in a report on Monday, September 22nd. Finally, Morgan Stanley set a $6.60 price objective on shares of Paramount Group and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Paramount Group presently has an average rating of “Hold” and a consensus price target of $6.45.

Paramount Group Price Performance

NYSE PGRE opened at $6.57 on Thursday. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 12-month low of $3.75 and a 12-month high of $7.85. The company has a market capitalization of $1.46 billion, a PE ratio of -14.59 and a beta of 1.32. The firm’s 50 day moving average is $6.68 and its 200-day moving average is $6.30.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Paramount Group had a negative net margin of 13.47% and a negative return on equity of 2.39%. The business had revenue of $172.96 million during the quarter, compared to analysts’ expectations of $167.65 million. Equities research analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share 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.