Brokerages Set Finance of America Companies Inc. (NYSE:FOA) Target Price at $27.33

Shares of Finance of America Companies Inc. (NYSE:FOA) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $27.3333.

A number of research analysts have recently commented on the stock. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price objective for the company. B. Riley Financial began coverage on shares of Finance of America Companies in a research note on Thursday, April 2nd. They issued a “buy” rating and a $22.50 target price for the company. Zacks Research upgraded Finance of America Companies to a “hold” rating in a report on Monday, April 6th. 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. Finally, Wall Street Zen lowered Finance of America Companies from a “hold” rating to a “sell” rating in a research note on Saturday.

Insider Buying and Selling at Finance of America Companies

In related news, CIO Jeremy Prahm sold 8,860 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $20.49, for a total transaction of $181,541.40. Following the transaction, the executive directly owned 203,856 shares of the company’s stock, valued at approximately $4,177,009.44. The trade was a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,838 shares of company stock worth $431,968. 35.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Finance of America Companies

Large investors have recently modified their holdings of the stock. Beach Point Capital Management LP lifted its stake in shares of 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 worth $19,111,000 after buying an additional 669,336 shares during the last quarter. Invesco Ltd. acquired a new position in Finance of America Companies in the 3rd quarter valued at about $3,147,000. Purpose Unlimited Inc. acquired a new position in Finance of America Companies in the 4th quarter valued at about $2,325,000. Russell Investments Group Ltd. raised its holdings in Finance of America Companies by 5,866.5% in the 4th quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company’s stock valued at $1,875,000 after acquiring an additional 76,147 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Finance of America Companies by 239.3% in the 3rd quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock valued at $1,994,000 after acquiring an additional 62,687 shares during the period. 97.20% of the stock is owned by institutional investors.

Finance of America Companies Price Performance

NYSE:FOA opened at $24.43 on Wednesday. Finance of America Companies has a 1-year low of $15.77 and a 1-year high of $29.79. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 43.57. The firm has a fifty day simple moving average of $22.42 and a 200 day simple moving average of $21.15. The stock has a market capitalization of $217.19 million, a PE ratio of 61.08 and a beta of 1.62.

Finance of America Companies (NYSE:FOA) last issued its earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share 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 business had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. On average, research analysts expect that Finance of America Companies will post 4.44 EPS for the current fiscal year.

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.