SG Americas Securities LLC Sells 22,445 Shares of Paramount Group, Inc. (NYSE:PGRE)

SG Americas Securities LLC lowered its position in Paramount Group, Inc. (NYSE:PGREGet Rating) by 18.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,194 shares of the financial services provider’s stock after selling 22,445 shares during the quarter. SG Americas Securities LLC’s holdings in Paramount Group were worth $612,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PGRE. Wipfli Financial Advisors LLC bought a new position in shares of Paramount Group in the third quarter worth $43,000. Harvest Fund Management Co. Ltd bought a new position in Paramount Group in the second quarter valued at $52,000. Vestmark Advisory Solutions Inc. bought a new position in Paramount Group in the second quarter valued at $73,000. Stephens Inc. AR bought a new position in Paramount Group in the second quarter valued at $73,000. Finally, Xponance Inc. bought a new position in Paramount Group in the second quarter valued at $73,000. Institutional investors own 59.17% of the company’s stock.

Paramount Group Stock Performance

NYSE PGRE opened at $6.15 on Monday. The company has a 50-day simple moving average of $6.06 and a two-hundred day simple moving average of $6.63. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.87. Paramount Group, Inc. has a 12-month low of $5.48 and a 12-month high of $11.53. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 307.65 and a beta of 1.15.

Paramount Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were issued a dividend of $0.078 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 5.07%. Paramount Group’s dividend payout ratio is currently 1,550.78%.

Insider Transactions at Paramount Group

In other news, CEO Albert P. Behler bought 40,000 shares of the company’s stock in a transaction dated Wednesday, December 7th. The stock was bought at an average cost of $5.75 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the chief executive officer now owns 171,812 shares in the company, valued at approximately $987,919. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Albert P. Behler bought 40,000 shares of the company’s stock in a transaction dated Wednesday, December 7th. The stock was bought at an average cost of $5.75 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the chief executive officer now owns 171,812 shares in the company, valued at approximately $987,919. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Armbrust bought 20,000 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were purchased at an average price of $5.71 per share, with a total value of $114,200.00. Following the completion of the acquisition, the director now owns 232,853 shares of the company’s stock, valued at approximately $1,329,590.63. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley cut Paramount Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $6.50 in a research note on Wednesday, November 23rd. Evercore ISI cut Paramount Group from an “in-line” rating to an “underperform” rating and reduced their target price for the company from $8.00 to $6.50 in a research note on Monday, November 21st. BTIG Research cut Paramount Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 19th. Wells Fargo & Company reduced their target price on Paramount Group from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 18th. Finally, Mizuho reduced their target price on Paramount Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, January 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Paramount Group currently has a consensus rating of “Hold” and a consensus price target of $6.60.

Paramount Group Profile

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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 and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

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

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