Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Paramount Group Inc (NYSE:PGRE) by 12.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 152,003 shares of the financial services provider’s stock after selling 22,271 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Paramount Group worth $1,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Paramount Group in the fourth quarter valued at about $276,758,000. Charles Schwab Investment Management Inc. increased its holdings in Paramount Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,983,830 shares of the financial services provider’s stock valued at $55,455,000 after acquiring an additional 107,159 shares in the last quarter. Presima Inc. increased its holdings in Paramount Group by 11.7% during the 4th quarter. Presima Inc. now owns 3,805,300 shares of the financial services provider’s stock valued at $52,970,000 after acquiring an additional 399,900 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Paramount Group by 120.6% during the 4th quarter. Nuveen Asset Management LLC now owns 3,068,387 shares of the financial services provider’s stock valued at $42,712,000 after acquiring an additional 1,677,749 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Paramount Group by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 2,949,490 shares of the financial services provider’s stock valued at $41,056,000 after acquiring an additional 121,802 shares in the last quarter. Institutional investors own 62.11% of the company’s stock.

PGRE opened at $7.77 on Friday. The stock has a market capitalization of $1.72 billion, a PE ratio of -45.71, a P/E/G ratio of 6.70 and a beta of 1.12. The firm’s fifty day moving average price is $8.65 and its 200 day moving average price is $11.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.34 and a quick ratio of 1.34. Paramount Group Inc has a 12-month low of $6.42 and a 12-month high of $15.11.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.24). Paramount Group had a negative net margin of 4.54% and a negative return on equity of 0.77%. The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $190.53 million. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Paramount Group Inc will post 0.96 earnings per share for the current fiscal year.

Several equities analysts have weighed in on PGRE shares. Goldman Sachs Group upgraded shares of Paramount Group from a “sell” rating to a “neutral” rating in a report on Thursday, April 2nd. ValuEngine downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Mizuho lowered their price target on shares of Paramount Group from $15.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Finally, Zacks Investment Research downgraded shares of Paramount Group from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Paramount Group currently has a consensus rating of “Hold” and an average price target of $14.00.

Paramount Group Profile

Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.

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

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