Eagle Asset Management Inc. reduced its stake in shares of Paramount Group Inc (NYSE:PGRE) by 12.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 872,724 shares of the financial services provider’s stock after selling 121,837 shares during the quarter. Eagle Asset Management Inc.’s holdings in Paramount Group were worth $13,681,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in PGRE. IBM Retirement Fund bought a new position in shares of Paramount Group during the 4th quarter valued at about $181,000. Teton Advisors Inc. lifted its holdings in shares of Paramount Group by 37.7% during the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 4,900 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Paramount Group during the 4th quarter valued at about $286,000. Daiwa Securities Group Inc. lifted its holdings in shares of Paramount Group by 6,222.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 20,423 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 20,100 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Paramount Group during the 3rd quarter valued at about $333,000. Institutional investors and hedge funds own 62.96% of the company’s stock.
Several equities analysts have recently weighed in on PGRE shares. Goldman Sachs Group upgraded Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Tuesday, February 6th. Zacks Investment Research upgraded Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, November 15th. Finally, TheStreet upgraded Paramount Group from a “d+” rating to a “c-” rating in a report on Thursday, December 21st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.60.
Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The business had revenue of $180.26 million for the quarter, compared to analysts’ expectations of $179.69 million. Paramount Group had a return on equity of 1.75% and a net margin of 12.02%. Paramount Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. equities analysts expect that Paramount Group Inc will post 0.94 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.chaffeybreeze.com/2018/02/21/eagle-asset-management-inc-has-13-68-million-stake-in-paramount-group-inc-pgre.html.
Paramount Group Company 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).
Want to see what other hedge funds are holding PGRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Group Inc (NYSE:PGRE).
Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.