Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells $181,541.40 in Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 8,860 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $20.49, for a total value of $181,541.40. Following the completion of the transaction, the executive directly owned 203,856 shares in the company, valued at approximately $4,177,009.44. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Monday, May 18th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $19.68, for a total value 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 value 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 value of $138,060.00.
• On Monday, April 6th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The stock was sold at an average price of $17.83, for a total value 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 Price Performance

Shares of FOA opened at $19.98 on Friday. 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 has a market cap of $177.58 million, a PE ratio of 49.94 and a beta of 1.67. The firm’s 50 day moving average price is $20.23 and its 200 day moving average price is $20.87. Finance of America Companies Inc. has a twelve month low of $15.77 and a twelve month high of $29.58.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.84 by $0.26. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. The company had revenue of $120.14 million during the quarter, compared to the consensus estimate of $115.31 million. As a group, research analysts expect that Finance of America Companies Inc. will post 4.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on FOA. Zacks Research raised shares of Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings upgraded Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Finally, B. Riley Financial assumed coverage on Finance of America Companies in a report on Thursday, April 2nd. They set a “buy” rating and a $22.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.

Institutional Investors Weigh In On Finance of America Companies

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after acquiring an additional 822 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Finance of America Companies in the 3rd quarter worth approximately $29,000. JPMorgan Chase & Co. grew its holdings in shares of 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 worth $49,000 after purchasing an additional 2,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Finance of America Companies during the second quarter valued at approximately $57,000. Finally, 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 purchasing an additional 2,242 shares during the period. 97.20% of the stock is owned by institutional investors and hedge funds.

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.