Vanguard Group Inc. Boosts Position in UWM Holdings Co. (NYSE:UWMC)

Vanguard Group Inc. boosted its position in shares of UWM Holdings Co. (NYSE:UWMC) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,842,460 shares of the company’s stock after purchasing an additional 28,071 shares during the quarter. Vanguard Group Inc. owned approximately 9.44% of UWM worth $42,886,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of UWMC. Point72 Hong Kong Ltd purchased a new stake in shares of UWM in the second quarter valued at $26,000. International Assets Investment Management LLC purchased a new stake in shares of UWM in the third quarter valued at $32,000. Captrust Financial Advisors lifted its position in shares of UWM by 220.9% in the second quarter. Captrust Financial Advisors now owns 9,589 shares of the company’s stock valued at $34,000 after acquiring an additional 6,601 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of UWM in the second quarter valued at $35,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of UWM in the fourth quarter valued at $35,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UWMC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on UWM in a research report on Wednesday, January 10th. They issued a “hold” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods upgraded UWM from an “underperform” rating to a “market perform” rating and set a $6.00 price objective on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.59.

UWM Stock Performance

Shares of NYSE:UWMC opened at $6.77 on Wednesday. The firm has a market capitalization of $639.83 million, a PE ratio of -35.63 and a beta of 1.60. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.86 and a quick ratio of 1.86. The business has a 50-day moving average of $6.79 and a two-hundred day moving average of $6.17. UWM Holdings Co. has a 12 month low of $4.49 and a 12 month high of $7.75.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). The firm had revenue of ($114.58) million for the quarter, compared to analyst estimates of $402.14 million. UWM had a return on equity of 2.45% and a net margin of 0.79%. As a group, research analysts forecast that UWM Holdings Co. will post 0.3 earnings per share for the current year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Wednesday, March 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 19th. This represents a $0.40 annualized dividend and a yield of 5.91%. UWM’s dividend payout ratio is presently -210.53%.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.