Paramount Group, Inc. (NYSE:PGRE) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its holdings in shares of Paramount Group, Inc. (NYSE:PGRE – Get Rating) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,872 shares of the financial services provider’s stock after purchasing an additional 3,247 shares during the quarter. Arizona State Retirement System’s holdings in Paramount Group were worth $302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd increased its holdings in Paramount Group by 145.8% during the 3rd quarter. Point72 Hong Kong Ltd now owns 10,969 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 6,506 shares during the last quarter. Royal Bank of Canada increased its holdings in Paramount Group by 13.9% during the 3rd quarter. Royal Bank of Canada now owns 13,986 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,706 shares during the last quarter. Jane Street Group LLC purchased a new stake in Paramount Group during the 2nd quarter worth approximately $88,000. CAPROCK Group Inc. purchased a new stake in Paramount Group during the 3rd quarter worth approximately $92,000. Finally, ProShare Advisors LLC increased its holdings in Paramount Group by 13.9% during the 4th quarter. ProShare Advisors LLC now owns 24,101 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 2,935 shares during the last quarter. 59.17% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Price Performance

Shares of PGRE opened at $4.50 on Tuesday. The company has a market cap of $977.45 million, a P/E ratio of -26.47, a PEG ratio of 0.44 and a beta of 1.20. The stock has a fifty day moving average price of $4.42 and a 200 day moving average price of $5.44. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.46 and a quick ratio of 4.46. Paramount Group, Inc. has a 12 month low of $3.90 and a 12 month high of $9.15.

Paramount Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a dividend of $0.078 per share. The ex-dividend date was Thursday, March 30th. This represents a $0.31 dividend on an annualized basis and a yield of 6.93%. Paramount Group’s payout ratio is currently -182.34%.

Insider Buying and Selling

In related news, CEO Albert P. Behler acquired 20,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $103,800.00. Following the purchase, the chief executive officer now directly owns 311,812 shares in the company, valued at $1,618,304.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Paramount Group news, CEO Albert P. Behler purchased 30,000 shares of Paramount Group stock in a transaction on Thursday, March 9th. The stock was bought at an average price of $5.05 per share, for a total transaction of $151,500.00. Following the transaction, the chief executive officer now owns 391,812 shares of the company’s stock, valued at approximately $1,978,650.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Albert P. Behler purchased 20,000 shares of Paramount Group stock in a transaction on Thursday, March 2nd. The shares were acquired at an average price of $5.19 per share, with a total value of $103,800.00. Following the transaction, the chief executive officer now directly owns 311,812 shares in the company, valued at approximately $1,618,304.28. The disclosure for this purchase can be found here. Insiders purchased a total of 194,500 shares of company stock worth $915,165 in the last three months. 10.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PGRE shares. Bank of America started coverage on Paramount Group in a report on Wednesday, March 1st. They set a “neutral” rating and a $5.50 price objective on the stock. Wells Fargo & Company lowered their price target on Paramount Group from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, March 16th. Morgan Stanley lowered their price target on Paramount Group from $5.30 to $4.50 in a report on Friday, March 31st. Finally, StockNews.com assumed coverage on Paramount Group in a report on Thursday, May 18th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Paramount Group presently has an average rating of “Hold” and a consensus target price of $5.92.

About Paramount Group

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Paramount Group, Inc is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. The company operates through the New York and San Francisco segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.