Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Paramount Group Inc (NYSE:PGRE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 190,210 shares of the financial services provider’s stock, valued at approximately $3,043,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in Paramount Group by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 1,084,895 shares of the financial services provider’s stock worth $17,358,000 after purchasing an additional 125,259 shares in the last quarter. Sei Investments Co. raised its holdings in Paramount Group by 2.3% during the third quarter. Sei Investments Co. now owns 331,013 shares of the financial services provider’s stock worth $5,296,000 after purchasing an additional 7,353 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Paramount Group by 6,222.9% during the third quarter. Daiwa Securities Group Inc. now owns 20,423 shares of the financial services provider’s stock worth $327,000 after buying an additional 20,100 shares during the period. American Century Companies Inc. grew its position in Paramount Group by 8.8% during the third quarter. American Century Companies Inc. now owns 2,382,891 shares of the financial services provider’s stock worth $38,126,000 after buying an additional 193,616 shares during the period. Finally, Teton Advisors Inc. grew its position in Paramount Group by 37.7% during the third quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock worth $286,000 after buying an additional 4,900 shares during the period. 62.64% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the stock. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a research report on Thursday, November 16th. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Paramount Group presently has a consensus rating of “Hold” and an average target price of $16.42.

Shares of Paramount Group Inc (NYSE:PGRE) traded down $0.06 on Thursday, reaching $16.02. 1,789,600 shares of the company’s stock traded hands, compared to its average volume of 1,147,300. Paramount Group Inc has a one year low of $15.14 and a one year high of $17.58. The firm has a market capitalization of $3,860.39, a price-to-earnings ratio of 18.92, a P/E/G ratio of 3.02 and a beta of 0.80.

Paramount Group (NYSE:PGRE) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. analysts expect that Paramount Group Inc will post 0.89 EPS for the current fiscal year.

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About Paramount Group

Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).

Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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