Geode Capital Management LLC Sells 339,885 Shares of Finance of America Companies Inc. (NYSE:FOA)

Geode Capital Management LLC reduced its stake in shares of Finance of America Companies Inc. (NYSE:FOA - Free Report) by 81.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,916 shares of the company's stock after selling 339,885 shares during the quarter. Geode Capital Management LLC owned 0.77% of Finance of America Companies worth $890,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of Finance of America Companies by 2.7% during 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in Finance of America Companies in the 2nd quarter valued at $43,000. Finally, AQR Capital Management LLC acquired a new position in shares of Finance of America Companies in the 2nd quarter valued at $41,000. 97.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Norma Corio purchased 4,300 shares of Finance of America Companies stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $25.61 per share, for a total transaction of $110,123.00. Following the completion of the acquisition, the director now owns 16,580 shares in the company, valued at approximately $424,613.80. This trade represents a 35.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lance West sold 23,245 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 12,280 shares of the company's stock, valued at $271,388. This represents a 65.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,632 shares of company stock valued at $937,887. 15.60% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Finance of America Companies Stock Down 4.4 %

Finance of America Companies stock traded down $1.29 during midday trading on Friday, reaching $28.11. The stock had a trading volume of 268,123 shares, compared to its average volume of 279,732. Finance of America Companies Inc. has a 1-year low of $4.10 and a 1-year high of $32.40. The company has a debt-to-equity ratio of 40.07, a quick ratio of 2.80 and a current ratio of 2.80. The firm's fifty day simple moving average is $23.09 and its 200-day simple moving average is $13.75. The stock 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 - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.54. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. The business had revenue of $290.07 million during the quarter, compared to the consensus estimate of $72.00 million. During the same quarter last year, the firm earned ($1.40) earnings per share. As a group, analysts expect that Finance of America Companies Inc. will post 0.75 EPS for the current fiscal year.

About Finance of America Companies

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.