Team Hewins LLC Sells 8,974 Shares of Paramount Group, Inc. (NYSE:PGRE)

Team Hewins LLC decreased its holdings in Paramount Group, Inc. (NYSE:PGRE) by 41.7% during the 1st quarter, HoldingsChannel reports. The firm owned 12,552 shares of the financial services provider’s stock after selling 8,974 shares during the quarter. Team Hewins LLC’s holdings in Paramount Group were worth $59,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PGRE. Manchester Capital Management LLC grew its position in Paramount Group by 785.9% during the 4th quarter. Manchester Capital Management LLC now owns 5,076 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 4,503 shares during the last quarter. Metis Global Partners LLC bought a new stake in Paramount Group during the 4th quarter worth $58,000. Great Lakes Advisors LLC bought a new stake in Paramount Group during the 4th quarter worth $85,000. Ballentine Partners LLC bought a new stake in Paramount Group during the 4th quarter worth $111,000. Finally, Jump Financial LLC bought a new stake in Paramount Group during the 4th quarter worth $128,000. Institutional investors own 65.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Morgan Stanley reduced their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Finally, Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective on the stock in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Paramount Group currently has a consensus rating of “Hold” and a consensus price target of $4.60.

Paramount Group Trading Up 2.5 %

PGRE traded up $0.12 during midday trading on Thursday, hitting $4.91. 753,946 shares of the company were exchanged, compared to its average volume of 1,211,362. The firm has a market capitalization of $1.07 billion, a P/E ratio of -4.25, a P/E/G ratio of 0.23 and a beta of 1.26. Paramount Group, Inc. has a 1-year low of $4.06 and a 1-year high of $5.92. The firm’s 50 day moving average price is $4.65 and its 200-day moving average price is $4.70. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.90.

Paramount Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 28th. Paramount Group’s payout ratio is presently -12.07%.

About Paramount Group

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.