Finance of America Companies (NYSE:FOA) CIO Jeremy Prahm Sells 6,000 Shares

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of Finance of America Companies stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $19.68, for a total transaction of $118,080.00. Following the sale, the executive owned 220,968 shares of the company’s stock, valued at approximately $4,348,650.24. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Prahm also recently made the following trade(s):

• On Thursday, May 7th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $21.39, for a total transaction of $111,826.92.
• On Monday, April 20th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $23.01, for a total transaction of $138,060.00.
• On Monday, April 6th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $17.83, for a total transaction of $93,215.24.
• On Monday, March 23rd, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $17.50, for a total transaction of $105,000.00.

Finance of America Companies Stock Down 6.8%

Shares of Finance of America Companies stock opened at $18.30 on Wednesday. Finance of America Companies Inc. has a 52-week low of $15.77 and a 52-week high of $29.58. The company has a 50 day moving average of $19.11 and a 200 day moving average of $21.37. 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 capitalization of $156.43 million, a P/E ratio of 45.74 and a beta of 1.69.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.26. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. The company had revenue of $120.14 million during the quarter, compared to the consensus estimate of $115.31 million. As a group, research analysts forecast that Finance of America Companies Inc. will post 4.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FOA. Weiss Ratings downgraded shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. 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. B. Riley Financial began coverage on shares of Finance of America Companies in a research report on Thursday, April 2nd. They set a “buy” rating and a $22.50 price objective for the company. Finally, Zacks Research upgraded shares of Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Finance of America Companies currently has an average rating of “Hold” and an average target price of $26.00.

Institutional Trading of Finance of America Companies

Several institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after acquiring an additional 822 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Finance of America Companies in the 3rd quarter valued at $29,000. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 2,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Finance of America Companies in the 2nd quarter valued at $57,000. Finally, Bank of America Corp DE increased 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 during the period. Hedge funds and other institutional investors 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.