Finance of America Companies (NYSE:FOA) Major Shareholder Purchases $822,000.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra bought 50,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $16.44 per share, for a total transaction of $822,000.00. Following the acquisition, the insider owned 445,188 shares in the company, valued at approximately $7,318,890.72. This represents a 12.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Finance of America Companies Stock Up 3.7%

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 company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. The firm has a 50 day moving average of $20.38 and a 200-day moving average of $20.80. The firm has a market capitalization of $199.67 million, a P/E ratio of 56.15 and a beta of 1.67. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.26. The company had revenue of $120.14 million during the quarter, compared to analysts’ expectations 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, research analysts anticipate that Finance of America Companies Inc. will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Finance of America Companies by 183.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after buying an additional 822 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Finance of America Companies in the 3rd quarter worth about $29,000. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 2,050 shares during the period. Bank of America Corp DE boosted its holdings in shares of Finance of America Companies by 3,503.1% during the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after acquiring an additional 2,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Finance of America Companies during the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FOA shares. 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. B. Riley Financial began coverage on Finance of America Companies in a research note on Thursday, April 2nd. They issued a “buy” rating and a $22.50 target price on the stock. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Zacks Research upgraded shares of Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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.