Finance of America Companies (NYSE:FOA) Major Shareholder Edmond Safra Acquires 75,000 Shares of Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra purchased 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $17.67 per share, for a total transaction of $1,325,250.00. Following the completion of the purchase, the insider owned 520,188 shares in the company, valued at $9,191,721.96. This trade represents a 16.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Finance of America Companies Trading Up 11.6%

NYSE FOA opened at $24.17 on Friday. Finance of America Companies Inc. has a 52 week low of $15.77 and a 52 week high of $29.58. The business has a 50 day moving average price of $20.42 and a 200-day moving average price of $20.82. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. The company has a market cap of $214.91 million, a price-to-earnings ratio of 60.42 and a beta of 1.67.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.26. The business had revenue of $120.14 million during the quarter, compared to analyst estimates of $115.31 million. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. As a group, equities analysts expect 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

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in Finance of America Companies by 183.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after buying an additional 822 shares during the period. Russell Investments Group Ltd. purchased a new position in Finance of America Companies in the third quarter valued at about $29,000. JPMorgan Chase & Co. grew its position 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 valued at $49,000 after acquiring an additional 2,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Finance of America Companies during the 2nd quarter valued at approximately $57,000. Finally, Bank of America Corp DE increased its stake in shares of Finance of America Companies by 3,503.1% during the 4th 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. 97.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on FOA shares. B. Riley Financial started coverage on Finance of America Companies in a research note on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price objective for 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. Zacks Research raised shares of Finance of America Companies to a “hold” rating in a report on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Finance of America Companies from a “sell” rating 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, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.