Finance of America Companies Inc. (NYSE:FOA) Stock Has Average Target Price of $30.50

Shares of Finance of America Companies Inc. (NYSE:FOA) have received an average rating of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.50.

FOA has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Alliance Global Partners assumed coverage on Finance of America Companies in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 target price for the company. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. B. Riley Financial reiterated a “buy” rating and issued a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Finally, Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th.

Finance of America Companies Trading Up 0.5%

Shares of FOA stock opened at $13.05 on Monday. The company has a market cap of $225.98 million, a P/E ratio of -4.34 and a beta of 1.68. The stock has a 50 day simple moving average of $17.76 and a two-hundred day simple moving average of $19.95. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02. Finance of America Companies has a fifty-two week low of $12.15 and a fifty-two week high of $29.79.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $62.48 million for the quarter, compared to analyst estimates of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. Research analysts forecast that Finance of America Companies will post 3.87 earnings per share for the current year.

Insider Buying and Selling at Finance of America Companies

In related news, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $13.20, for a total value of $79,200.00. Following the transaction, the executive directly owned 155,856 shares in the company, valued at $2,057,299.20. This trade represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,250 shares of company stock worth $687,428 over the last quarter. 35.37% of the stock is owned by corporate insiders.

Institutional Trading of Finance of America Companies

Several hedge funds have recently bought and sold shares of FOA. Purpose Unlimited Inc. acquired a new position in Finance of America Companies during the fourth quarter worth $2,325,000. Dimensional Fund Advisors LP increased its position in shares of Finance of America Companies by 56.7% during the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock worth $1,694,000 after acquiring an additional 36,929 shares in the last quarter. First Trust Advisors LP increased its position in shares of Finance of America Companies by 43.7% during the first quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock worth $286,000 after acquiring an additional 5,236 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Finance of America Companies in the 2nd quarter worth about $240,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Finance of America Companies by 160.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock worth $80,000 after acquiring an additional 2,035 shares during 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, Inc (NYSE: FOA) is a financial services company focused on helping older homeowners use their home equity as part of a broader retirement strategy. Through its subsidiaries, the company provides reverse mortgage products and related solutions designed to help homeowners access cash, supplement retirement income, manage expenses or remain in their homes.

The company’s reverse mortgage business, Finance of America Reverse, offers federally insured Home Equity Conversion Mortgages as well as proprietary reverse mortgage products, including HomeSafe.