Finance of America Companies (NYSE:FOA) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Finance of America Companies (NYSE:FOA) in a report issued on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 target price on the stock.

A number of other research firms have also weighed in on FOA. Wall Street Zen upgraded Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Monday, April 6th. B. Riley Financial started 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 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. Finally, Zacks Research raised Finance of America Companies to a “hold” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.33.

Finance of America Companies Trading Up 1.9%

Shares of NYSE:FOA opened at $23.66 on Wednesday. The company has a market cap of $210.34 million, a PE ratio of 59.15 and a beta of 1.62. Finance of America Companies has a 12-month low of $15.77 and a 12-month high of $29.79. The stock has a 50 day moving average of $22.11 and a 200 day moving average of $21.13. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 43.57.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $115.31 million. As a group, equities research analysts expect that Finance of America Companies will post 4.59 EPS for the current year.

Insider Buying and Selling at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of the firm’s stock in a transaction 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 completion of the sale, the executive owned 203,856 shares of the company’s stock, valued at $4,177,009.44. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,838 shares of company stock valued at $431,968. Corporate insiders own 35.37% of the company’s stock.

Hedge Funds Weigh In On Finance of America Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Finance of America Companies by 183.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after acquiring an additional 822 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Finance of America Companies during the 3rd quarter worth $29,000. JPMorgan Chase & Co. grew its holdings in shares of Finance of America Companies by 4,270.8% during the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock worth $49,000 after buying an additional 2,050 shares during the last quarter. Bank of America Corp DE grew its stake 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 purchasing an additional 2,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Finance of America Companies in the 2nd quarter valued at $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.