Bastion Asset Management Inc. Acquires Shares of 186,990 Finance of America Companies Inc. (NYSE:FOA)

Bastion Asset Management Inc. purchased a new position in Finance of America Companies Inc. (NYSE:FOA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 186,990 shares of the company's stock, valued at approximately $4,850,000. Finance of America Companies makes up about 3.2% of Bastion Asset Management Inc.'s holdings, making the stock its 7th biggest position. Bastion Asset Management Inc. owned approximately 1.88% of Finance of America Companies at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp purchased a new position in Finance of America Companies during the fourth quarter worth about $479,000. Integrated Wealth Concepts LLC bought a new stake in shares of Finance of America Companies during the 4th quarter valued at about $630,000. Stifel Financial Corp purchased a new position in shares of Finance of America Companies during the fourth quarter worth about $204,000. Marshall Wace LLP bought a new position in shares of Finance of America Companies in the fourth quarter worth approximately $277,000. Finally, XTX Topco Ltd purchased a new stake in Finance of America Companies in the fourth quarter valued at approximately $213,000. 97.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group cut their price target on shares of Finance of America Companies from $25.00 to $22.50 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Raymond James increased their target price on Finance of America Companies from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Tuesday, March 25th.

Finance of America Companies Price Performance

NYSE:FOA traded up $0.60 during mid-day trading on Friday, reaching $21.43. The stock had a trading volume of 40,044 shares, compared to its average volume of 85,718. The stock has a market capitalization of $229.56 million, a P/E ratio of 1.83 and a beta of 1.42. The firm has a 50 day moving average price of $20.58 and a two-hundred day moving average price of $22.06. The company has a debt-to-equity ratio of 40.07, a quick ratio of 2.80 and a current ratio of 2.80. Finance of America Companies Inc. has a one year low of $4.10 and a one year high of $32.40.

Finance of America Companies (NYSE:FOA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.15. The company had revenue of $165.70 million during the quarter, compared to analysts' expectations of $79.56 million. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. As a group, analysts expect that Finance of America Companies Inc. will post 0.75 earnings per share for the current year.

Finance of America Companies Company 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.