American Century Companies Inc. Buys 58,156 Shares of Finance of America Companies Inc. $FOA

Key Points

• American Century Companies Inc. increased its ownership in Finance of America Companies Inc. by 209.5% during the first quarter, acquiring a total of 85,918 shares valued at approximately $1.83 million.
• Institutional investors now own 97.20% of Finance of America Companies' stock, indicating significant institutional interest in the company.
• Finance of America Companies reported earnings per share of $0.55, missing the consensus estimate by ($0.06), with a revenue of $177.38 million for the quarter.

American Century Companies Inc. raised its position in Finance of America Companies Inc. (NYSE:FOA - Free Report) by 209.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,918 shares of the company's stock after purchasing an additional 58,156 shares during the quarter. American Century Companies Inc. owned approximately 0.80% of Finance of America Companies worth $1,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock worth $65,000 after buying an additional 2,242 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Finance of America Companies in the fourth quarter worth about $204,000. Ritholtz Wealth Management acquired a new stake in shares of Finance of America Companies in the first quarter worth about $229,000. Marshall Wace LLP acquired a new stake in shares of Finance of America Companies in the fourth quarter worth about $277,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Finance of America Companies in the fourth quarter worth about $318,000. Hedge funds and other institutional investors own 97.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FOA. Wall Street Zen cut Finance of America Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group reaffirmed a "neutral" rating and issued a $25.00 price target (up previously from $22.50) on shares of Finance of America Companies in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.50.

Finance of America Companies Price Performance

NYSE FOA traded up $0.63 during trading hours on Thursday, reaching $27.88. 97,857 shares of the company's stock were exchanged, compared to its average volume of 113,568. The stock has a market cap of $308.83 million, a PE ratio of 4.56 and a beta of 1.50. Finance of America Companies Inc. has a one year low of $8.69 and a one year high of $32.40. The firm has a fifty day moving average of $24.85 and a 200-day moving average of $22.54. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 39.38.

Finance of America Companies (NYSE:FOA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.06). The company had revenue of $177.38 million during the quarter, compared to analyst estimates of $97.05 million. On average, equities research analysts predict that Finance of America Companies Inc. will post 0.75 earnings per share for the current fiscal 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.