Connor Clark & Lunn Investment Management Ltd. Acquires 280,559 Shares of Paramount Group, Inc. (NYSE:PGRE)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Paramount Group, Inc. (NYSE:PGRE) by 78.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,384 shares of the financial services provider’s stock after purchasing an additional 280,559 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paramount Group were worth $3,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock worth $23,107,000 after acquiring an additional 345,450 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Paramount Group by 21.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock worth $12,388,000 after purchasing an additional 443,777 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Paramount Group by 398.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock worth $6,830,000 after purchasing an additional 1,109,485 shares during the period. Barclays PLC lifted its stake in Paramount Group by 95.5% in the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after purchasing an additional 222,656 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Paramount Group by 94.8% during the third quarter. Jane Street Group LLC now owns 350,559 shares of the financial services provider’s stock valued at $1,725,000 after purchasing an additional 170,639 shares during the period. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Trading Up 3.1 %

Shares of PGRE stock opened at $4.12 on Tuesday. The stock has a market capitalization of $895.13 million, a price-to-earnings ratio of -4.20 and a beta of 1.22. The company’s fifty day simple moving average is $4.57 and its two-hundred day simple moving average is $4.82. Paramount Group, Inc. has a 1 year low of $3.96 and a 1 year high of $5.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The company had revenue of $186.27 million for the quarter, compared to analyst estimates of $180.41 million. As a group, analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Mizuho dropped their price target on Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Group presently has a consensus rating of “Hold” and a consensus price target of $4.63.

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. 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.