OMERS ADMINISTRATION Corp Raises Holdings in Finance of America Companies Inc. $FOA

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Finance of America Companies Inc. by 107.1% during the first quarter, owning approximately 0.22% of the company worth $497,000.
• Finance of America Companies recently reported earnings of $0.55 per share, missing estimates by $0.06, while revenue was significantly above estimates at $177.38 million.
• Analyst ratings for Finance of America Companies have shown a shift, with a downgrade from "buy" to "hold," and a consensus rating now at "Moderate Buy" with an average price target of $27.50.

OMERS ADMINISTRATION Corp grew its position in shares of Finance of America Companies Inc. (NYSE:FOA - Free Report) by 107.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,400 shares of the company's stock after purchasing an additional 12,100 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.22% of Finance of America Companies worth $497,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Finance of America Companies by 3,503.1% during the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock worth $65,000 after purchasing an additional 2,242 shares in the last quarter. Stifel Financial Corp acquired a new position in Finance of America Companies during the fourth quarter worth $204,000. Ritholtz Wealth Management acquired a new position in Finance of America Companies during the first quarter worth $229,000. XTX Topco Ltd lifted its stake in Finance of America Companies by 161.4% during the first quarter. XTX Topco Ltd now owns 19,830 shares of the company's stock worth $422,000 after purchasing an additional 12,243 shares in the last quarter. Finally, Northern Trust Corp acquired a new stake in shares of Finance of America Companies in the fourth quarter valued at $479,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group reiterated a "neutral" rating and issued a $25.00 price objective (up from $22.50) on shares of Finance of America Companies in a research note on Tuesday, July 15th. Wall Street Zen cut Finance of America Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.50.

Finance of America Companies Stock Down 0.1%

NYSE:FOA traded down $0.02 during trading hours on Friday, hitting $27.78. The company's stock had a trading volume of 198,627 shares, compared to its average volume of 99,619. The stock has a market capitalization of $307.79 million, a P/E ratio of 4.55 and a beta of 1.50. The stock has a fifty day moving average of $25.03 and a 200-day moving average of $22.56. 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 Inc. has a 52-week low of $9.78 and a 52-week high of $32.40.

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

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.