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

Finance of America Companies Inc. (NYSE:FOA) 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 acquired at an average price of $16.44 per share, with a total value of $822,000.00. Following the completion of the purchase, the insider directly owned 445,188 shares in the company, valued at $7,318,890.72. This represents a 12.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares 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. The company has a market cap of $214.86 million, a P/E ratio of 60.42 and a beta of 1.67. The stock’s fifty day moving average price is $20.42 and its two-hundred day moving average price is $20.82. Finance of America Companies Inc. has a 1 year low of $15.77 and a 1 year high of $29.58. 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:FOA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share 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 company had revenue of $120.14 million during the quarter, compared to analysts’ expectations of $115.31 million. As a group, analysts expect that Finance of America Companies Inc. will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

FOA has been the subject of a number of recent analyst reports. Zacks Research raised Finance of America Companies to a “hold” rating in a report on Monday, April 6th. Weiss Ratings raised shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. B. Riley Financial assumed coverage on shares of Finance of America Companies in a research report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price objective for the company. Finally, Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Monday, April 6th. One research 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.

Institutional Investors Weigh In On Finance of America Companies

A number of institutional investors and hedge funds have recently made changes to their positions in FOA. Caitong International Asset Management Co. Ltd boosted its stake 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. bought a new position in Finance of America Companies in the 3rd quarter worth about $29,000. JPMorgan Chase & Co. increased its stake 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 worth $49,000 after acquiring an additional 2,050 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after acquiring an additional 2,242 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Finance of America Companies in the 2nd quarter valued at about $57,000. 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.