Swedbank AB Boosts Stock Position in Paramount Group, Inc. (NYSE:PGRE)

Swedbank AB raised its stake in Paramount Group, Inc. (NYSE:PGRE) by 25.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 142,466 shares of the financial services provider’s stock after buying an additional 28,650 shares during the quarter. Swedbank AB’s holdings in Paramount Group were worth $701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in Paramount Group by 7.0% in the second quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 2,202 shares during the last quarter. Bank of Montreal Can grew its stake in Paramount Group by 2.5% in the second quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 2,811 shares during the last quarter. abrdn plc grew its stake in Paramount Group by 10.5% in the third quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 3,514 shares during the last quarter. Arizona State Retirement System grew its stake in Paramount Group by 8.6% in the second quarter. Arizona State Retirement System now owns 48,673 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 3,873 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Paramount Group by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 99,156 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 4,197 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price target on Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th.

Paramount Group Price Performance

Shares of PGRE stock opened at $4.90 on Thursday. Paramount Group, Inc. has a fifty-two week low of $4.21 and a fifty-two week high of $5.92. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The stock’s 50-day simple moving average is $5.00 and its 200-day simple moving average is $4.88.

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.