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

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $23.01, for a total transaction of $138,060.00. Following the transaction, the executive directly owned 232,196 shares in the company, valued at approximately $5,342,829.96. The trade was a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 Price Performance

Shares of NYSE:FOA traded up $0.26 during midday trading on Wednesday, hitting $22.46. The company’s stock had a trading volume of 53,782 shares, compared to its average volume of 94,209. The business’s 50 day simple moving average is $19.04 and its 200 day simple moving average is $21.60. The company has a debt-to-equity ratio of 47.80, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market cap of $192.02 million, a P/E ratio of 11.52 and a beta of 1.70. 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 posted its quarterly earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $73.51 million for the quarter, compared to the consensus estimate of $109.45 million. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. On average, analysts forecast that Finance of America Companies Inc. will post 4.5 EPS for the current year.

Institutional Investors Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently bought and sold shares of FOA. Bank of America Corp DE increased its position in 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 worth $65,000 after purchasing an additional 2,242 shares during the last quarter. Geode Capital Management LLC increased its position in Finance of America Companies by 66.2% during the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after purchasing an additional 54,429 shares during the last quarter. JPMorgan Chase & Co. increased its position in Finance of America Companies by 4,270.8% during the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock worth $49,000 after purchasing an additional 2,050 shares during the last quarter. American Century Companies Inc. increased its position in Finance of America Companies by 3.1% during the second quarter. American Century Companies Inc. now owns 88,554 shares of the company’s stock worth $2,065,000 after purchasing an additional 2,636 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in Finance of America Companies during the second quarter worth about $103,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FOA has been the topic of several research reports. Zacks Research raised shares of Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. B. Riley Financial initiated coverage on shares of Finance of America Companies in a research note on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price target on the stock. 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Finance of America Companies in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.00.

Finance of America Companies Company Profile

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.