Jupiter Asset Management Ltd. Has $19.93 Million Holdings in Paramount Group, Inc. $PGRE

Jupiter Asset Management Ltd. decreased its position in Paramount Group, Inc. (NYSE:PGRE) by 55.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,266,376 shares of the financial services provider’s stock after selling 4,122,773 shares during the period. Jupiter Asset Management Ltd. owned about 1.48% of Paramount Group worth $19,925,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PGRE. Signaturefd LLC raised its position in Paramount Group by 101.0% in the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 4,167 shares in the last quarter. Manchester Capital Management LLC raised its holdings in shares of Paramount Group by 99.2% in the 1st quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock worth $38,000 after buying an additional 4,415 shares in the last quarter. Truist Financial Corp bought a new position in shares of Paramount Group during the 2nd quarter worth approximately $67,000. Wolverine Asset Management LLC boosted its stake in Paramount Group by 86.6% in the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock valued at $52,000 after buying an additional 5,659 shares in the last quarter. Finally, Ethic Inc. acquired a new stake in Paramount Group in the 2nd quarter valued at $76,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

Shares of Paramount Group stock opened at $6.57 on Thursday. The firm has a fifty day moving average of $6.68 and a two-hundred day moving average of $6.30. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.91 and a current ratio of 4.91. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -14.59 and a beta of 1.32. Paramount Group, Inc. has a 52 week low of $3.75 and a 52 week high of $7.85.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $172.96 million during the quarter, compared to analysts’ expectations of $167.65 million. Paramount Group had a negative return on equity of 2.39% and a negative net margin of 13.47%. As a group, equities research analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on PGRE. BTIG Research restated a “neutral” rating on shares of Paramount Group in a research report on Wednesday, September 17th. Wells Fargo & Company raised Paramount Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.20 to $6.60 in a report on Thursday, September 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Group in a research report on Wednesday, October 8th. Morgan Stanley set a $6.60 price objective on Paramount Group and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI set a $6.60 price objective on Paramount Group and gave the stock an “in-line” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.45.

About Paramount Group

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.