Alliance Global Partners started coverage on shares of Finance of America Companies (NYSE:FOA – Free Report) in a research note released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $30.00 target price on the stock.
A number of other brokerages also recently issued reports on FOA. Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Wall Street Zen upgraded Finance of America Companies from a “sell” rating to a “hold” rating in a report on Monday, April 6th. B. Riley Financial initiated coverage on Finance of America Companies in a research report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 target price for the company. 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, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.33.
View Our Latest Stock Analysis on Finance of America Companies
Finance of America Companies Price Performance
Finance of America Companies (NYSE:FOA – Get Free Report) last issued its 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. The business had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%. As a group, research analysts expect that Finance of America Companies will post 4.59 EPS for the current fiscal year.
Insider Buying and Selling at Finance of America Companies
In other news, CIO Jeremy Prahm sold 8,860 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $20.49, for a total transaction of $181,541.40. Following the transaction, the executive directly owned 203,856 shares of the company’s stock, valued at $4,177,009.44. This represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,838 shares of company stock worth $431,968. 35.37% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Finance of America Companies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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 buying an additional 822 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Finance of America Companies during the third quarter valued at approximately $29,000. JPMorgan Chase & Co. increased its holdings 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 valued at $49,000 after buying an additional 2,050 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Finance of America Companies in the second quarter worth approximately $57,000. Finally, Bank of America Corp DE raised its position in Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock worth $65,000 after acquiring an additional 2,242 shares during the period. 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.
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