Charles Schwab Investment Management Inc. Lowers Stake in Paramount Group, Inc. (NYSE:PGRE)

Charles Schwab Investment Management Inc. trimmed its position in Paramount Group, Inc. (NYSE:PGRE) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,953,578 shares of the financial services provider’s stock after selling 399,033 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.82% of Paramount Group worth $19,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PGRE. Long Pond Capital LP raised its holdings in Paramount Group by 131.4% in the second quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock valued at $34,731,000 after buying an additional 4,259,635 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Paramount Group by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,310,207 shares of the financial services provider’s stock worth $10,696,000 after acquiring an additional 15,806 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Paramount Group by 6.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,043,027 shares of the financial services provider’s stock valued at $4,829,000 after acquiring an additional 63,789 shares during the period. Millennium Management LLC lifted its holdings in shares of Paramount Group by 4,007.2% during the 2nd quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock valued at $4,417,000 after acquiring an additional 930,721 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Paramount Group by 782.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock valued at $1,756,000 after acquiring an additional 316,399 shares in the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price objective on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th.

Paramount Group Trading Up 0.2 %

PGRE opened at $4.81 on Friday. The firm’s 50 day moving average is $4.97 and its 200-day moving average is $4.88. Paramount Group, Inc. has a 52-week low of $4.21 and a 52-week high of $5.92. 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 firm has a market capitalization of $1.05 billion, a P/E ratio of -4.91 and a beta of 1.23.

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.