Alliancebernstein L.P. Has $1.29 Million Stock Holdings in Paramount Group, Inc. (NYSE:PGRE)

Alliancebernstein L.P. lowered its stake in Paramount Group, Inc. (NYSE:PGRE) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 260,456 shares of the financial services provider’s stock after selling 4,593 shares during the period. Alliancebernstein L.P.’s holdings in Paramount Group were worth $1,287,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Metis Global Partners LLC raised its holdings in Paramount Group by 16.3% in the 4th quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 2,935 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Paramount Group by 1.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 239,200 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 3,000 shares during the last quarter. US Bancorp DE increased its holdings in Paramount Group by 33.9% in the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 3,708 shares in the last quarter. Xponance Inc. increased its stake in shares of Paramount Group by 54.8% in the fourth quarter. Xponance Inc. now owns 18,519 shares of the financial services provider’s stock valued at $91,000 after buying an additional 6,554 shares during the period. Finally, FMR LLC raised its stake in shares of Paramount Group by 42.5% during the third quarter. FMR LLC now owns 22,695 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 6,768 shares during the last quarter. 65.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Mizuho decreased their target price on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.25 price target on shares of Paramount Group in a research report on Tuesday.

Paramount Group Stock Up 2.5 %

Shares of NYSE:PGRE opened at $4.28 on Friday. Paramount Group, Inc. has a 1 year low of $3.75 and a 1 year high of $5.47. The business has a fifty day moving average price of $4.29 and a two-hundred day moving average price of $4.68. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The company has a market capitalization of $937.19 million, a PE ratio of -4.36 and a beta of 1.10.

Paramount Group (NYSE:PGRE) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $186.27 million for the quarter, compared to analyst estimates of $180.41 million. Analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Insider Activity

In other news, CEO Albert P. Behler bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the transaction, the chief executive officer now directly owns 751,812 shares of the company’s stock, valued at $3,120,019.80. This represents a 1.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.80% of the stock is owned by company insiders.

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.