Sei Investments Co. Decreases Stake in Paramount Group, Inc. (NYSE:PGRE)

Sei Investments Co. lowered its stake in Paramount Group, Inc. (NYSE:PGRE) by 33.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,672 shares of the financial services provider’s stock after selling 7,754 shares during the quarter. Sei Investments Co.’s holdings in Paramount Group were worth $73,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centersquare Investment Management LLC lifted its stake in Paramount Group by 4.1% in the 1st quarter. Centersquare Investment Management LLC now owns 3,031,919 shares of the financial services provider’s stock valued at $14,068,000 after buying an additional 119,590 shares in the last quarter. Swedbank AB purchased a new position in shares of Paramount Group during the 1st quarter worth $688,000. BNP Paribas Financial Markets increased its holdings in shares of Paramount Group by 17.7% during the 1st quarter. BNP Paribas Financial Markets now owns 111,072 shares of the financial services provider’s stock worth $521,000 after buying an additional 16,717 shares during the last quarter. Quadrature Capital Ltd lifted its stake in shares of Paramount Group by 202.6% in the 4th quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 47,586 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Paramount Group by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 6,583 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

PGRE opened at $5.00 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of -5.10 and a beta of 1.25. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 1 year low of $4.06 and a 1 year high of $5.92. The stock’s 50 day simple moving average is $4.90 and its 200-day simple moving average is $4.79.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price target on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.70.

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.