Paramount Group, Inc. (NYSE:PGRE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in shares of Paramount Group, Inc. (NYSE:PGRE) by 28.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,864 shares of the financial services provider’s stock after selling 5,228 shares during the period. Principal Financial Group Inc.’s holdings in Paramount Group were worth $63,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. raised its holdings in shares of Paramount Group by 7.5% in the third quarter. Asset Management One Co. Ltd. now owns 257,029 shares of the financial services provider’s stock worth $1,265,000 after acquiring an additional 18,005 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in Paramount Group in the 3rd quarter worth approximately $67,000. Van ECK Associates Corp raised its holdings in Paramount Group by 9.5% in the 3rd quarter. Van ECK Associates Corp now owns 36,906 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 3,187 shares during the last quarter. abrdn plc boosted its holdings in shares of Paramount Group by 10.5% during the third quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 3,514 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Paramount Group by 92.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,423 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 21,846 shares during the period. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

Paramount Group stock opened at $4.88 on Wednesday. The firm has a market capitalization of $1.06 billion, a PE ratio of -4.98 and a beta of 1.25. Paramount Group, Inc. has a one year low of $4.21 and a one year high of $5.92. The stock’s 50 day moving average price is $5.01 and its 200 day moving average price is $4.88. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised 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, September 11th.

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.