Paramount Group, Inc. (NYSE:PGRE) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in Paramount Group, Inc. (NYSE:PGRE) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,270,697 shares of the financial services provider’s stock after selling 682,881 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.50% of Paramount Group worth $16,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PGRE. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 purchasing an additional 316,399 shares during the period. Intech Investment Management LLC bought a new stake in Paramount Group in the third quarter worth approximately $175,000. Algert Global LLC increased its stake in shares of Paramount Group by 2.3% during the 3rd quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock worth $1,612,000 after purchasing an additional 7,437 shares during the last quarter. Swedbank AB lifted its stake in shares of Paramount Group by 25.2% in the 3rd quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 28,650 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Paramount Group by 14.5% in the third quarter. Daiwa Securities Group Inc. now owns 59,856 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 7,600 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PGRE. Morgan Stanley cut their target price on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday. Mizuho reduced 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.

Paramount Group Stock Up 1.6 %

PGRE stock opened at $4.22 on Friday. The stock has a market capitalization of $916.88 million, a price-to-earnings ratio of -4.30 and a beta of 1.22. The company has a 50-day moving average of $4.53 and a two-hundred day moving average of $4.80. Paramount Group, Inc. has a 52-week low of $3.96 and a 52-week high of $5.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $186.27 million during the quarter, compared to analysts’ expectations of $180.41 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. As a group, equities research analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current year.

Paramount Group 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.