State Board of Administration of Florida Retirement System Buys 3,650 Shares of Paramount Group, Inc. (NYSE:PGRE)

State Board of Administration of Florida Retirement System raised its stake in Paramount Group, Inc. (NYSE:PGRE – Get Rating) by 14.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,978 shares of the financial services provider’s stock after purchasing an additional 3,650 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Paramount Group were worth $172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd increased its stake in shares of Paramount Group by 145.8% during the third quarter. Point72 Hong Kong Ltd now owns 10,969 shares of the financial services provider’s stock valued at $68,000 after buying an additional 6,506 shares during the period. Royal Bank of Canada increased its stake in shares of Paramount Group by 13.9% during the third quarter. Royal Bank of Canada now owns 13,986 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,706 shares during the period. Jane Street Group LLC purchased a new position in shares of Paramount Group during the second quarter valued at approximately $88,000. CAPROCK Group Inc. purchased a new position in shares of Paramount Group during the third quarter valued at approximately $92,000. Finally, ProShare Advisors LLC increased its stake in shares of Paramount Group by 13.9% during the fourth quarter. ProShare Advisors LLC now owns 24,101 shares of the financial services provider’s stock valued at $143,000 after buying an additional 2,935 shares during the period. Institutional investors own 59.17% of the company’s stock.

Analysts Set New Price Targets

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

Paramount Group Trading Up 1.4 %

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

Paramount Group Dividend Announcement

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

Insider Transactions at Paramount Group

In related news, CEO Albert P. Behler bought 30,000 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The shares were purchased at an average cost of $4.36 per share, with a total value of $130,800.00. Following the completion of the purchase, the chief executive officer now owns 521,812 shares in the company, valued at approximately $2,275,100.32. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Paramount Group news, CEO Albert P. Behler purchased 40,000 shares of the stock in a transaction dated Friday, March 17th. The shares were purchased at an average cost of $4.28 per share, with a total value of $171,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 441,812 shares in the company, valued at approximately $1,890,955.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Albert P. Behler purchased 30,000 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were acquired at an average cost of $4.36 per share, for a total transaction of $130,800.00. Following the completion of the acquisition, the chief executive officer now owns 521,812 shares of the company’s stock, valued at $2,275,100.32. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 194,500 shares of company stock valued at $915,165. Insiders own 10.40% of the company’s stock.

Paramount Group Profile

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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.