Finance of America Companies (NYSE:FOA) Major Shareholder Edmond Safra Purchases 50,000 Shares of Stock

Finance of America Companies Inc. (NYSE:FOAGet Free Report) major shareholder Edmond Safra acquired 50,000 shares of Finance of America Companies stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $16.44 per share, with a total value of $822,000.00. Following the completion of the purchase, the insider owned 445,188 shares in the company, valued at $7,318,890.72. The trade was a 12.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Finance of America Companies Price Performance

FOA stock opened at $24.17 on Friday. Finance of America Companies Inc. has a 1 year low of $15.77 and a 1 year high of $29.58. The firm has a market capitalization of $214.91 million, a PE ratio of 60.42 and a beta of 1.67. The business has a 50 day simple moving average of $20.42 and a 200-day simple moving average of $20.82. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62.

Finance of America Companies (NYSE:FOAGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, beating 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 firm had revenue of $120.14 million for the quarter, compared to analyst estimates of $115.31 million. Equities research analysts anticipate that Finance of America Companies Inc. will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Finance of America Companies

Institutional investors have recently added to or reduced their stakes in the business. Beach Point Capital Management LP lifted its holdings in Finance of America Companies by 557.5% in the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock valued at $19,111,000 after acquiring an additional 669,336 shares during the period. Invesco Ltd. purchased a new position in shares of Finance of America Companies in the 3rd quarter valued at about $3,147,000. Purpose Unlimited Inc. acquired a new stake in shares of Finance of America Companies in the fourth quarter valued at about $2,325,000. Russell Investments Group Ltd. boosted its holdings in Finance of America Companies by 5,866.5% during the fourth quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company’s stock worth $1,875,000 after buying an additional 76,147 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Finance of America Companies by 239.3% during the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock worth $1,994,000 after buying an additional 62,687 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Wall Street Analyst Weigh In

FOA has been the subject of several analyst reports. B. Riley Financial started coverage on Finance of America Companies in a research note on Thursday, April 2nd. They set a “buy” rating and a $22.50 target price for the company. Zacks Research raised 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. Finally, Weiss Ratings upgraded shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.00.

Read Our Latest Stock Analysis on FOA

Finance of America Companies Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Finance of America Companies (NYSE:FOA)

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