Philadelphia Financial Management of San Francisco LLC raised its holdings in shares of Five Point Holdings LLC (NYSE:FPH) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,304,931 shares of the company’s stock after acquiring an additional 277,631 shares during the quarter. Five Point makes up 4.8% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 3rd largest holding. Philadelphia Financial Management of San Francisco LLC owned 1.60% of Five Point worth $32,500,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors purchased a new position in shares of Five Point during the 2nd quarter worth $130,000. Teacher Retirement System of Texas bought a new stake in shares of Five Point during the 4th quarter valued at $164,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Five Point during the 3rd quarter valued at $275,000. Goldman Sachs Group Inc. raised its position in shares of Five Point by 126.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 36,886 shares of the company’s stock valued at $520,000 after purchasing an additional 20,596 shares during the period. Finally, BlackRock Inc. bought a new stake in shares of Five Point during the 4th quarter valued at $291,000. Institutional investors and hedge funds own 34.72% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Five Point from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $19.08.
Five Point Company Profile
Five Point Holdings, LLC, formerly Newhall Holding Company, LLC, is the owner and developer of mixed-use, planned communities in coastal California. The Company is primarily engaged in the business of planning and developing its three mixed-use, planned communities. It operates in three segments: Newhall, San Francisco and Great Park.
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