Bank of New York Mellon Corp boosted its position in shares of Paramount Group Inc (NYSE:PGRE) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,895 shares of the financial services provider’s stock after purchasing an additional 125,259 shares during the period. Bank of New York Mellon Corp’s holdings in Paramount Group were worth $17,358,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PGRE. Public Employees Retirement Association of Colorado raised its stake in shares of Paramount Group by 9.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 526 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Paramount Group by 5.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 108,007 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 5,711 shares during the period. TD Asset Management Inc. raised its stake in shares of Paramount Group by 8.1% in the 2nd quarter. TD Asset Management Inc. now owns 55,901 shares of the financial services provider’s stock valued at $894,000 after acquiring an additional 4,200 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Paramount Group by 14.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,888,930 shares of the financial services provider’s stock valued at $30,223,000 after acquiring an additional 231,993 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Paramount Group by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 217,655 shares of the financial services provider’s stock valued at $3,482,000 after acquiring an additional 9,302 shares during the period. 62.65% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on PGRE shares. Zacks Investment Research downgraded shares of Paramount Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. TheStreet downgraded shares of Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.40.

Shares of Paramount Group Inc (NYSE:PGRE) opened at $16.04 on Tuesday. Paramount Group Inc has a 52 week low of $15.14 and a 52 week high of $17.58. The firm has a market cap of $3,812.38, a P/E ratio of 18.68, a P/E/G ratio of 3.55 and a beta of 0.80.

Paramount Group (NYSE:PGRE) last announced 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 firm had revenue of $179.80 million for the quarter, compared to the consensus estimate of $172.85 million. During the same period in the prior year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. analysts predict that Paramount Group Inc will post 0.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, December 28th. Paramount Group’s payout ratio is currently 102.70%.

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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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