Finance of America Companies (NYSE:FOA) CIO Jeremy Prahm Sells 6,000 Shares of Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $21.73, for a total transaction of $130,380.00. Following the transaction, the executive directly owned 179,856 shares in the company, valued at approximately $3,908,270.88. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 6th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $22.26, for a total transaction of $133,560.00.
• On Monday, June 15th, Jeremy Prahm sold 8,860 shares of Finance of America Companies stock. The shares were sold at an average price of $20.49, for a total transaction of $181,541.40.
• 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.

Finance of America Companies Stock Up 3.5%

Shares of NYSE FOA opened at $22.30 on Thursday. The company has a market capitalization of $198.25 million, a P/E ratio of -7.41 and a beta of 1.65. 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 company has a 50 day simple moving average of $23.11 and a 200-day simple moving average of $21.04. Finance of America Companies Inc. has a 1 year low of $15.77 and a 1 year high of $29.79.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). Finance of America Companies had a positive return on equity of 28.51% and a negative net margin of 0.10%.The business had revenue of $62.48 million during the quarter, compared to analysts’ expectations of $121.94 million. On average, equities research analysts predict that Finance of America Companies Inc. will post 4.16 earnings per share for the current year.

Analysts Set New Price Targets

FOA has been the topic of a number of research analyst reports. B. Riley Financial reissued a “buy” rating and issued a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Wall Street Zen lowered Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Alliance Global Partners initiated coverage on Finance of America Companies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Weiss Ratings lowered Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.50.

Institutional Investors Weigh In On Finance of America Companies

Several large investors have recently bought and sold shares of FOA. Caitong International Asset Management Co. Ltd lifted its stake in 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 worth $28,000 after acquiring an additional 822 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Finance of America Companies in the 3rd quarter valued at $29,000. JPMorgan Chase & Co. raised its holdings in shares of Finance of America Companies by 4,270.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock valued at $49,000 after purchasing an additional 2,050 shares in the last quarter. Bank of America Corp DE lifted its position 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 worth $65,000 after purchasing 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 worth $57,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

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.