Hsbc Holdings PLC Boosts Stake in Paramount Group Inc (NYSE:PGRE)

Hsbc Holdings PLC increased its stake in shares of Paramount Group Inc (NYSE:PGRE) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,109 shares of the financial services provider’s stock after buying an additional 1,111 shares during the period. Hsbc Holdings PLC’s holdings in Paramount Group were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Utah Retirement Systems raised its position in shares of Paramount Group by 1.5% in the fourth quarter. Utah Retirement Systems now owns 52,676 shares of the financial services provider’s stock valued at $661,000 after buying an additional 800 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Paramount Group by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 130,900 shares of the financial services provider’s stock worth $1,644,000 after purchasing an additional 800 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Paramount Group by 4.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 32,600 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 1,300 shares during the last quarter. Eaton Vance Management increased its position in Paramount Group by 5.7% during the fourth quarter. Eaton Vance Management now owns 35,386 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Paramount Group by 5.9% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,685 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 2,000 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors.

PGRE has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. Morgan Stanley raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 price target for the company in a research report on Wednesday, March 13th. Finally, Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.15.

PGRE traded up $0.14 during trading on Friday, hitting $14.07. 867,048 shares of the company’s stock were exchanged, compared to its average volume of 977,233. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.73. Paramount Group Inc has a 1 year low of $12.18 and a 1 year high of $16.05. The company has a market cap of $3.30 billion, a P/E ratio of 14.66, a P/E/G ratio of 3.42 and a beta of 0.87.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, February 13th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.21). The firm had revenue of $190.68 million during the quarter, compared to analysts’ expectations of $186.53 million. Paramount Group had a net margin of 1.21% and a return on equity of 0.18%. Paramount Group’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. Research analysts anticipate that Paramount Group Inc will post 0.9 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.84%. Paramount Group’s dividend payout ratio (DPR) is presently 41.67%.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/paramount-group-inc-pgre-position-increased-by-hsbc-holdings-plc.html.

About Paramount Group

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, Washington, DC and San Francisco.

Featured Story: What is a Market Correction?

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

Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.