20,300 Shares in UWM Holdings Co. (NYSE:UWMC) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in UWM Holdings Co. (NYSE:UWMC) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 20,300 shares of the company’s stock, valued at approximately $121,000.

Several other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in UWM during the fourth quarter worth approximately $77,000. HB Wealth Management LLC raised its stake in UWM by 23.0% during the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after acquiring an additional 2,631 shares in the last quarter. Sei Investments Co. bought a new position in UWM in the 4th quarter valued at approximately $82,000. Orion Portfolio Solutions LLC bought a new position in shares of UWM in the 3rd quarter valued at $85,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of UWM during the third quarter valued at about $106,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Wedbush reaffirmed a “neutral” rating and issued a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $6.50 to $7.50 in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.25.

UWM Trading Up 1.5 %

NYSE:UWMC opened at $4.69 on Thursday. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of -20.39 and a beta of 1.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50-day moving average price of $5.95 and a two-hundred day moving average price of $6.29. UWM Holdings Co. has a 52 week low of $4.27 and a 52 week high of $9.74.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million. On average, equities analysts expect that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.53%. The ex-dividend date of this dividend is Thursday, March 20th. UWM’s dividend payout ratio (DPR) is presently 500.00%.

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.