First Trust Advisors LP Acquires New Holdings in Paramount Group Inc (PGRE)

First Trust Advisors LP acquired a new stake in shares of Paramount Group Inc (NYSE:PGRE) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 59,909 shares of the financial services provider’s stock, valued at approximately $959,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado grew its holdings in Paramount Group by 9.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 526 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Paramount Group by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock valued at $122,000 after buying an additional 75 shares in the last quarter. Synovus Financial Corp bought a new position in Paramount Group in the second quarter valued at approximately $256,000. GAM Holding AG lifted its stake in Paramount Group by 37.7% in the second quarter. GAM Holding AG now owns 16,813 shares of the financial services provider’s stock valued at $269,000 after buying an additional 4,600 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Paramount Group in the second quarter valued at approximately $377,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Shares of Paramount Group Inc (PGRE) traded down $0.31 on Wednesday, reaching $15.96. 1,059,900 shares of the company’s stock were exchanged, compared to its average volume of 1,161,006. The company has a market capitalization of $3,906.00, a price-to-earnings ratio of 19.14, a P/E/G ratio of 3.50 and a beta of 0.80. Paramount Group Inc has a 1 year low of $15.14 and a 1 year high of $17.58.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. analysts forecast that Paramount Group Inc will post 0.9 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Paramount Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.40.

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Paramount Group Profile

Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).

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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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