Paramount Group, Inc. (NYSE:PGRE) Stock Position Raised by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 1,436.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,443 shares of the financial services provider’s stock after acquiring an additional 160,285 shares during the quarter. Wolverine Asset Management LLC owned 0.08% of Paramount Group worth $886,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. boosted its position in shares of Paramount Group by 4.7% in the third quarter. Jupiter Asset Management Ltd. now owns 8,932,443 shares of the financial services provider’s stock worth $41,268,000 after buying an additional 400,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Paramount Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,603,603 shares of the financial services provider’s stock worth $21,269,000 after buying an additional 250,210 shares during the period. Rush Island Management LP acquired a new stake in shares of Paramount Group in the third quarter worth $8,379,000. Presima Securities ULC boosted its position in shares of Paramount Group by 19.1% in the third quarter. Presima Securities ULC now owns 1,410,740 shares of the financial services provider’s stock worth $6,518,000 after buying an additional 226,400 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Paramount Group by 1.0% during the third quarter. Swiss National Bank now owns 358,143 shares of the financial services provider’s stock worth $1,655,000 after acquiring an additional 3,500 shares in the last quarter. 65.64% of the stock is owned by institutional investors.

Paramount Group Stock Down 1.5 %

Paramount Group stock opened at $4.62 on Friday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.95. The business’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $4.73. Paramount Group, Inc. has a 52 week low of $4.06 and a 52 week high of $5.92.

Paramount Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.035 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.03%. Paramount Group’s payout ratio is presently -11.67%.

Analysts Set New Price Targets

Several analysts recently issued reports on PGRE shares. Morgan Stanley cut their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, March 28th. StockNews.com lowered Paramount Group from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective for the company in a report on Monday, March 18th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.60.

Paramount Group Company Profile

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.