Key Points
- Major shareholder Edmond Safra bought 75,000 shares of Finance of America Companies (NYSE: FOA) at an average price of $17.67, spending about $1.33 million. After the purchase, he directly owned 520,188 shares, a 16.85% increase in his stake.
- FOA shares were reported up 11.6% and opened at $24.17, after trading in a 52-week range of $15.77 to $29.58. The company’s market cap is about $214.9 million, with a high debt-to-equity ratio of 43.57.
- The company recently posted strong quarterly earnings, reporting $1.10 EPS versus the $0.84 consensus estimate and revenue of $120.14 million above expectations. Analysts currently have an average rating of Hold with a consensus price target of $26.00.
Finance of America Companies Inc. (NYSE:FOA - Get 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 shares were purchased at an average cost of $16.44 per share, for a total transaction of $822,000.00. Following the purchase, the insider directly owned 445,188 shares of the company's stock, valued at approximately $7,318,890.72. This trade represents a 12.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Finance of America Companies Price Performance
Finance of America Companies stock opened at $24.17 on Friday. The firm has a 50 day moving average price of $20.42 and a 200 day moving average price of $20.82. The company has a market cap of $214.91 million, a price-to-earnings ratio of 60.42 and a beta of 1.67. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62. Finance of America Companies Inc. has a 1 year low of $15.77 and a 1 year high of $29.58.
Finance of America Companies (NYSE:FOA - Get Free Report) last announced 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. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%.The business had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. Sell-side analysts predict that Finance of America Companies Inc. will post 4.59 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Weiss Ratings raised Finance of America Companies from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Wall Street Zen upgraded Finance of America Companies from a "sell" rating to a "hold" rating in a research note on Monday, April 6th. B. Riley Financial started coverage on Finance of America Companies in a report on Thursday, April 2nd. They issued a "buy" rating and a $22.50 price objective for the company. Finally, Zacks Research raised shares of Finance of America Companies to a "hold" rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Finance of America Companies has an average rating of "Hold" and a consensus price target of $26.00.
Read Our Latest Stock Analysis on FOA
Institutional Trading of Finance of America Companies
A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 54,429 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 during the period. American Century Companies Inc. grew its position in Finance of America Companies by 3.1% in the 2nd 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 position in shares of Finance of America Companies during the second quarter valued at about $103,000. Institutional investors and hedge funds own 97.20% of the company's stock.
Finance of America Companies Company Profile
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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.
Further Reading
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