LSV Asset Management Sells 533,900 Shares of Paramount Group, Inc. (NYSE:PGRE)

LSV Asset Management cut its holdings in Paramount Group, Inc. (NYSE:PGRE) by 47.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,400 shares of the financial services provider’s stock after selling 533,900 shares during the quarter. LSV Asset Management owned 0.27% of Paramount Group worth $3,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Paramount Group by 201.4% in the third quarter. SG Americas Securities LLC now owns 83,924 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 56,079 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Paramount Group by 18.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 81,655 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 12,591 shares during the period. Daiwa Securities Group Inc. increased its position in Paramount Group by 4.8% during the third quarter. Daiwa Securities Group Inc. now owns 52,856 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 2,441 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Paramount Group by 5.6% in the third quarter. Nisa Investment Advisors LLC now owns 78,886 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 4,192 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Paramount Group by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 27,359 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 7,702 shares during the period. Institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

PGRE opened at $4.79 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.03 and a quick ratio of 4.03. Paramount Group, Inc. has a 1-year low of $4.06 and a 1-year high of $5.92. The company has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $4.75. The firm has a market cap of $1.04 billion, a P/E ratio of -4.13, a PEG ratio of 0.24 and a beta of 1.20.

Paramount Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 dividend on an annualized basis and a yield of 2.93%. Paramount Group’s payout ratio is presently -12.07%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PGRE. Morgan Stanley cut their target price on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Evercore ISI raised shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective for the company in a research report on Monday, March 18th. Finally, StockNews.com raised Paramount Group from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.60.

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.