Renaissance Technologies LLC Has $5.96 Million Stake in Paramount Group Inc (PGRE)

Renaissance Technologies LLC raised its stake in Paramount Group Inc (NYSE:PGRE) by 230.0% in the 2nd quarter, Holdings Channel reports. The firm owned 386,800 shares of the financial services provider’s stock after buying an additional 269,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Paramount Group were worth $5,957,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in shares of Paramount Group by 16.8% in the first quarter. Hsbc Holdings PLC now owns 23,554 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 3,381 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Paramount Group by 3.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,617 shares of the financial services provider’s stock valued at $1,858,000 after acquiring an additional 4,319 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Paramount Group by 5.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 126,000 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 6,300 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in shares of Paramount Group during the second quarter valued at approximately $155,000. Finally, Legal & General Group Plc increased its position in shares of Paramount Group by 0.6% during the second quarter. Legal & General Group Plc now owns 1,761,493 shares of the financial services provider’s stock valued at $27,127,000 after acquiring an additional 10,178 shares during the last quarter. 63.42% of the stock is owned by hedge funds and other institutional investors.

Shares of PGRE opened at $14.10 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.49 and a quick ratio of 2.49. The company has a market cap of $3.63 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 5.00 and a beta of 0.68. Paramount Group Inc has a 12 month low of $13.70 and a 12 month high of $16.61.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $191.40 million during the quarter, compared to the consensus estimate of $186.41 million. Paramount Group had a negative return on equity of 1.01% and a negative net margin of 6.89%. Paramount Group’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. On average, equities research analysts predict that Paramount Group Inc will post 0.95 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Thursday, September 27th. Paramount Group’s payout ratio is 44.94%.

PGRE has been the subject of a number of research analyst reports. Zacks Investment Research raised Paramount Group from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Friday, August 3rd. Deutsche Bank increased their price target on Paramount Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Finally, ValuEngine raised Paramount Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.70.

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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