Insider Buying: Paramount Group Inc (NYSE:PGRE) Director Acquires 33,363 Shares of Stock

Paramount Group Inc (NYSE:PGRE) Director Katharina Otto-Bernstein acquired 33,363 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $13.49 per share, for a total transaction of $450,066.87. Following the acquisition, the director now directly owns 12,164,852 shares in the company, valued at approximately $164,103,853.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE PGRE traded down $0.18 during trading hours on Monday, hitting $13.41. 1,410,200 shares of the company were exchanged, compared to its average volume of 1,311,878. The company has a 50 day moving average of $13.37 and a two-hundred day moving average of $13.65. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.76. Paramount Group Inc has a 52-week low of $12.18 and a 52-week high of $15.11. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 3.68 and a beta of 0.77.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.21). Paramount Group had a return on equity of 0.44% and a net margin of 2.77%. The company had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $190.88 million. During the same quarter last year, the company earned $0.24 EPS. Paramount Group’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Paramount Group Inc will post 0.97 EPS for the current year.

Several equities research analysts have weighed in on the company. Morgan Stanley upgraded Paramount Group from an “equal” rating to a “weight” rating and set a $15.00 price target on the stock in a report on Friday, October 11th. ValuEngine downgraded Paramount Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Goldman Sachs Group assumed coverage on Paramount Group in a report on Friday, November 8th. They set a “sell” rating and a $13.00 price target on the stock. Finally, Zacks Investment Research downgraded Paramount Group from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Paramount Group presently has an average rating of “Hold” and a consensus price target of $14.33.

Hedge funds and other institutional investors have recently modified their holdings of the business. Aperio Group LLC increased its holdings in Paramount Group by 120.8% during the 2nd quarter. Aperio Group LLC now owns 241,559 shares of the financial services provider’s stock worth $3,384,000 after purchasing an additional 132,147 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Paramount Group by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,698,327 shares of the financial services provider’s stock worth $37,494,000 after acquiring an additional 392,972 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Paramount Group by 18.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 723,105 shares of the financial services provider’s stock worth $10,131,000 after acquiring an additional 114,853 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Paramount Group by 67.3% during the 2nd quarter. Acadian Asset Management LLC now owns 82,946 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 33,354 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Paramount Group by 54.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 411,641 shares of the financial services provider’s stock worth $5,495,000 after acquiring an additional 144,935 shares in the last quarter. Institutional investors own 62.90% of the company’s stock.

About Paramount Group

Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.

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