Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells 8,860 Shares of Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 8,860 shares of Finance of America Companies stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $20.49, for a total transaction of $181,541.40. Following the completion of the transaction, the executive directly owned 203,856 shares of the company’s stock, valued at $4,177,009.44. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Prahm also recently made the following trade(s):

• On Monday, May 18th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $19.68, for a total transaction of $118,080.00.
• On Thursday, May 7th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $21.39, for a total transaction of $111,826.92.
• On Monday, April 20th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $23.01, for a total transaction of $138,060.00.
• On Monday, April 6th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $17.83, for a total transaction of $93,215.24.
• On Monday, March 23rd, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $17.50, for a total transaction of $105,000.00.

Finance of America Companies Stock Performance

Shares of NYSE FOA traded down $0.10 during midday trading on Tuesday, hitting $19.86. The company’s stock had a trading volume of 59,051 shares, compared to its average volume of 80,713. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62. The firm’s fifty day moving average price is $20.11 and its 200-day moving average price is $20.95. The firm has a market cap of $176.51 million, a P/E ratio of 49.64 and a beta of 1.67. Finance of America Companies Inc. has a 1-year low of $15.77 and a 1-year high of $29.58.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.26. The firm had revenue of $120.14 million during the quarter, compared to analyst estimates of $115.31 million. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. On average, sell-side analysts forecast that Finance of America Companies Inc. will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in Finance of America Companies during the first quarter worth approximately $90,000. First Trust Advisors LP lifted its stake in Finance of America Companies by 43.7% during the first quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after purchasing an additional 5,236 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Finance of America Companies by 56.7% during the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock valued at $1,694,000 after purchasing an additional 36,929 shares during the last quarter. Purpose Unlimited Inc. acquired a new stake in Finance of America Companies during the fourth quarter valued at approximately $2,325,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Finance of America Companies by 160.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock valued at $80,000 after purchasing an additional 2,035 shares during the last quarter. Institutional investors own 97.20% of the company’s stock.

Analysts Set New Price Targets

FOA has been the subject of a number of analyst reports. B. Riley Financial initiated coverage on shares of Finance of America Companies in a research note on Thursday, April 2nd. They set a “buy” rating and a $22.50 target price for the company. Zacks Research raised shares of Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings raised shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.00.

About Finance of America Companies

Finance of America Companies (NYSE: FOA) is a diversified nonbank financial services firm specializing in mortgage and insurance products for consumers. The company operates across multiple business segments, delivering home financing solutions, retirement products and specialized lending services through a blend of digital and traditional distribution channels.

In its mortgage segment, FOA originates and purchases a range of home loans including purchase, refinance, FHA, VA and USDA loans.