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

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra acquired 75,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of $17.67 per share, with a total value of $1,325,250.00. Following the transaction, the insider directly owned 520,188 shares of the company’s stock, valued at $9,191,721.96. The trade was a 16.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Finance of America Companies Stock Up 11.6%

FOA stock opened at $24.17 on Friday. Finance of America Companies Inc. has a twelve month low of $15.77 and a twelve month high of $29.58. 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 $214.86 million, a PE ratio of 60.42 and a beta of 1.67. The business’s 50-day simple moving average is $20.42 and its 200 day simple moving average is $20.82.

Finance of America Companies (NYSE:FOA) last posted its quarterly 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 firm had revenue of $120.14 million during the quarter, compared to analysts’ expectations of $115.31 million. On average, research analysts anticipate that Finance of America Companies Inc. will post 4.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on FOA shares. B. Riley Financial started 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. Weiss Ratings upgraded shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note 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 report on Monday, April 6th. One 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.00.

Institutional Investors Weigh In On Finance of America Companies

Several institutional investors and hedge funds have recently made changes to their positions in FOA. Cooperman Leon G grew its holdings in shares of Finance of America Companies by 0.8% in the 3rd quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock worth $28,846,000 after purchasing an additional 10,628 shares during the last quarter. Beach Point Capital Management LP lifted its holdings in Finance of America Companies by 557.5% during the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock valued at $19,111,000 after purchasing an additional 669,336 shares during the last quarter. Invesco Ltd. bought a new position in Finance of America Companies during the 3rd quarter valued at about $3,147,000. Geode Capital Management LLC boosted its position in Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock valued at $3,188,000 after buying an additional 54,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Finance of America Companies by 56.7% in the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock valued at $1,694,000 after buying an additional 36,929 shares in the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.

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.