Finance of America Companies (NYSE:FOA) Major Shareholder Acquires 75,000 Shares of Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra bought 75,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were bought at an average cost of $17.67 per share, for a total transaction of $1,325,250.00. Following the transaction, the insider owned 520,188 shares of the company’s stock, valued at $9,191,721.96. The trade was a 16.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Finance of America Companies Stock Performance

Shares of NYSE FOA traded up $0.80 during midday trading on Friday, reaching $22.46. The company’s stock had a trading volume of 2,798 shares, compared to its average volume of 78,975. The stock has a market capitalization of $199.67 million, a P/E ratio of 55.39 and a beta of 1.67. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a 50 day moving average price of $20.38 and a 200-day moving average price of $20.80. Finance of America Companies Inc. has a 12-month low of $15.77 and a 12-month high of $29.58.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.26. The business had revenue of $120.14 million for the quarter, compared to analyst estimates of $115.31 million. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%. As a group, equities analysts predict that Finance of America Companies Inc. will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FOA. Caitong International Asset Management Co. Ltd grew its position in shares of Finance of America Companies by 183.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after purchasing an additional 822 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Finance of America Companies in the 3rd quarter worth about $29,000. JPMorgan Chase & Co. grew its holdings in Finance of America Companies by 4,270.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock valued at $49,000 after buying an additional 2,050 shares in the last quarter. Bank of America Corp DE increased its position in shares of Finance of America Companies by 3,503.1% during the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after buying an additional 2,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Finance of America Companies during the second quarter valued at about $57,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FOA. B. Riley Financial started 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 price target for the company. Zacks Research raised Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Finally, Wall Street Zen upgraded Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.