Paramount Group, Inc. (NYSE:PGRE) Stock Holdings Lowered by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. reduced its holdings in Paramount Group, Inc. (NYSE:PGRE) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,853,102 shares of the financial services provider’s stock after selling 224,658 shares during the quarter. Jupiter Asset Management Ltd. owned 4.07% of Paramount Group worth $40,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PGRE. New York State Common Retirement Fund raised its holdings in shares of Paramount Group by 9.1% in the 4th quarter. New York State Common Retirement Fund now owns 77,454 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 6,444 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Group by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,756,225 shares of the financial services provider’s stock worth $24,590,000 after purchasing an additional 152,622 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $128,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Paramount Group by 13.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 105,835 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 12,653 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $85,000. 65.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their target price on shares of Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.70.

Paramount Group Stock Performance

Paramount Group stock opened at $4.89 on Thursday. The firm’s 50 day simple moving average is $4.94 and its 200-day simple moving average is $4.73. The company has a market cap of $1.06 billion, a P/E ratio of -4.22, a price-to-earnings-growth ratio of 0.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.39 and a quick ratio of 4.39. Paramount Group, Inc. has a fifty-two week low of $4.06 and a fifty-two week high of $5.92.

Paramount Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Friday, June 28th. Paramount Group’s payout ratio is presently -12.07%.

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.