Bastion Asset Management Inc. Decreases Stock Position in Finance of America Companies Inc. $FOA

Bastion Asset Management Inc. cut its stake in shares of Finance of America Companies Inc. (NYSE:FOA) by 54.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 99,351 shares of the company’s stock after selling 120,028 shares during the quarter. Bastion Asset Management Inc.’s holdings in Finance of America Companies were worth $2,303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FOA. Bank of America Corp DE increased its stake in Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock worth $65,000 after purchasing an additional 2,242 shares during the period. AlphaQuest LLC bought a new position in shares of Finance of America Companies in the second quarter worth approximately $64,000. XTX Topco Ltd increased its stake in shares of Finance of America Companies by 161.4% in the first quarter. XTX Topco Ltd now owns 19,830 shares of the company’s stock worth $422,000 after buying an additional 12,243 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in Finance of America Companies by 107.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 23,400 shares of the company’s stock valued at $497,000 after buying an additional 12,100 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in Finance of America Companies by 20.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 24,000 shares of the company’s stock valued at $510,000 after buying an additional 4,000 shares during the last quarter. 97.20% of the stock is currently owned by institutional investors.

Finance of America Companies Trading Down 4.6%

Shares of FOA opened at $21.95 on Friday. Finance of America Companies Inc. has a 1-year low of $14.00 and a 1-year high of $32.40. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 39.38. The firm’s 50-day moving average price is $23.61 and its 200-day moving average price is $23.17. The firm has a market capitalization of $243.23 million, a price-to-earnings ratio of -8.25 and a beta of 1.52.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings results on Friday, August 18th. The company reported $0.12 earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Finance of America Companies Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group reissued a “neutral” rating and issued a $25.00 price target (up previously from $22.50) on shares of Finance of America Companies in a report on Tuesday, July 15th. Wall Street Zen cut Finance of America Companies from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Finance of America Companies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Finance of America Companies currently has an average rating of “Hold” and a consensus price target of $27.50.

Insider Activity at Finance of America Companies

In other news, CAO Tai A. Thornock sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $25.87, for a total value of $28,457.00. Following the completion of the transaction, the chief accounting officer owned 15,050 shares in the company, valued at $389,343.50. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 2,600 shares of company stock valued at $64,547. Company insiders own 25.00% of the company’s stock.

About Finance of America Companies

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.