The Manufacturers Life Insurance Company Has $14.55 Million Holdings in Five Point Holdings, LLC $FPH

The Manufacturers Life Insurance Company cut its holdings in shares of Five Point Holdings, LLC (NYSE:FPH) by 7.6% during the 1st quarter, Holdings Channel reports. The firm owned 3,007,019 shares of the company’s stock after selling 246,905 shares during the period. The Manufacturers Life Insurance Company’s holdings in Five Point were worth $14,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FPH. Lazard Asset Management LLC acquired a new stake in Five Point during the first quarter worth approximately $79,000. Renaissance Technologies LLC increased its stake in Five Point by 5.3% during the 1st quarter. Renaissance Technologies LLC now owns 270,162 shares of the company’s stock worth $1,308,000 after acquiring an additional 13,662 shares during the period. Dimensional Fund Advisors LP raised its holdings in Five Point by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,380,446 shares of the company’s stock valued at $6,681,000 after acquiring an additional 3,500 shares in the last quarter. ACR Alpine Capital Research LLC raised its holdings in Five Point by 10.3% in the 1st quarter. ACR Alpine Capital Research LLC now owns 1,229,255 shares of the company’s stock valued at $5,950,000 after acquiring an additional 114,498 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Five Point during the 1st quarter valued at $823,000. 38.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Five Point from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Five Point Trading Up 0.2%

Shares of NYSE:FPH opened at $5.20 on Monday. The firm has a 50 day moving average of $5.15 and a 200-day moving average of $5.17. Five Point Holdings, LLC has a 12 month low of $4.60 and a 12 month high of $6.64. The stock has a market capitalization of $769.27 million, a PE ratio of 7.33 and a beta of 1.32.

Five Point (NYSE:FPH) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.19. The business had revenue of $13.90 million for the quarter, compared to analyst estimates of $8.61 million. Five Point had a net margin of 45.35% and a return on equity of 2.29%.

About Five Point

Five Point Holdings, L.P. (NYSE:FPH) is a California‐based master planned community developer specializing in residential, commercial and mixed‐use projects. Headquartered in Walnut Creek, the company focuses on acquiring and entitling raw land, designing infrastructure and delivering fully integrated neighborhoods that include single‐family homes, multifamily housing, retail centers, office space and community amenities.

Since its formation in 2014, Five Point has concentrated its land development efforts in the San Francisco Bay Area and the Los Angeles Basin, targeting key growth corridors with large‐scale, long-term projects.