Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells 6,000 Shares of Stock
by Sarita Garza · The Markets DailyFinance of America Companies Inc. (NYSE:FOA – Get Free Report) CIO Jeremy Prahm sold 6,000 shares of Finance of America Companies stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $17.50, for a total value of $105,000.00. Following the sale, the executive owned 167,294 shares in the company, valued at $2,927,645. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Finance of America Companies Stock Performance
FOA traded down $0.32 during trading on Wednesday, hitting $16.91. 62,281 shares of the company traded hands, compared to its average volume of 99,123. The firm has a market cap of $144.61 million, a P/E ratio of 8.67 and a beta of 1.65. The stock’s fifty day moving average is $20.77 and its 200 day moving average is $22.34. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 47.80. Finance of America Companies Inc. has a one year low of $16.09 and a one year high of $29.58.
Finance of America Companies (NYSE:FOA – Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $73.51 million during 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%. As a group, equities analysts predict that Finance of America Companies Inc. will post 0.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Finance of America Companies
Several institutional investors have recently added to or reduced their stakes in FOA. Caitong International Asset Management Co. Ltd increased its stake 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 purchasing an additional 822 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Finance of America Companies during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Finance of America Companies during the 3rd quarter valued at approximately $29,000. Charles Schwab Investment Management Inc. boosted its holdings in Finance of America Companies by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,241 shares of the company’s stock worth $442,000 after buying an additional 1,397 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in Finance of America Companies by 5.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 28,500 shares of the company’s stock worth $639,000 after buying an additional 1,500 shares during the period. 97.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently commented on FOA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Finance of America Companies in a report on Monday, December 29th. Wall Street Zen upgraded Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group set a $29.50 target price on Finance of America Companies and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Finance of America Companies presently has a consensus rating of “Reduce” and an average target price of $29.50.
View Our Latest Stock Report on Finance of America Companies
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.