Finance of America Companies Inc. (NYSE:FOA) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Finance of America Companies Inc. (NYSE:FOA) by 81.5% in the 3rd quarter, Holdings Channel reports. The fund owned 76,916 shares of the company’s stock after selling 339,885 shares during the period. Geode Capital Management LLC’s holdings in Finance of America Companies were worth $890,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in shares of Finance of America Companies in the second quarter valued at about $41,000. Renaissance Technologies LLC lifted its stake in shares of Finance of America Companies by 2.7% in the second quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock valued at $55,000 after purchasing an additional 3,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Finance of America Companies in the second quarter valued at about $43,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group downgraded shares of Finance of America Companies from a “buy” rating to a “neutral” rating and raised their target price for the company from $14.00 to $24.00 in a report on Wednesday, November 20th.

Finance of America Companies Stock Performance

NYSE:FOA opened at $28.11 on Friday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 40.07. The firm has a 50-day moving average price of $23.09 and a two-hundred day moving average price of $13.69. Finance of America Companies Inc. has a twelve month low of $4.10 and a twelve month high of $32.40. The company has a market capitalization of $279.02 million, a P/E ratio of 2.40 and a beta of 1.11.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.54. The firm had revenue of $290.07 million during the quarter, compared to the consensus estimate of $72.00 million. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. During the same period last year, the firm posted ($1.40) EPS. As a group, research analysts expect that Finance of America Companies Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Finance of America Companies

In related news, Director Lance West sold 23,245 shares of Finance of America Companies stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $22.10, for a total value of $513,714.50. Following the completion of the sale, the director now owns 12,280 shares in the company, valued at approximately $271,388. The trade was a 65.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Norma Corio purchased 4,300 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $25.61 per share, with a total value of $110,123.00. Following the purchase, the director now owns 16,580 shares of the company’s stock, valued at approximately $424,613.80. The trade was a 35.02 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 43,632 shares of company stock worth $937,887. 15.60% of the stock is owned by company insiders.

Finance of America Companies Profile

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.