Vanguard Group Inc. Purchases 3,212,081 Shares of UWM Holdings Co. (NYSE:UWMC)

Vanguard Group Inc. grew its position in UWM Holdings Co. (NYSE:UWMC) by 37.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,764,910 shares of the company’s stock after buying an additional 3,212,081 shares during the period. Vanguard Group Inc.’s holdings in UWM were worth $69,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of UWMC. Geode Capital Management LLC grew its holdings in UWM by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after purchasing an additional 41,206 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of UWM in the third quarter valued at approximately $680,000. Tidal Investments LLC bought a new position in shares of UWM during the 3rd quarter worth approximately $3,833,000. KLP Kapitalforvaltning AS acquired a new position in shares of UWM during the 4th quarter worth approximately $121,000. Finally, Sanctuary Advisors LLC bought a new stake in UWM in the 4th quarter valued at $77,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and increased their price target for the company from $6.50 to $7.50 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.25.

UWM Trading Down 7.1 %

Shares of UWM stock opened at $4.38 on Friday. UWM Holdings Co. has a 52-week low of $4.23 and a 52-week high of $9.74. The stock has a market cap of $6.99 billion, a PE ratio of -19.02 and a beta of 1.64. The firm has a 50-day moving average of $5.92 and a 200-day moving average of $6.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC) last announced its earnings results 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 business had revenue of $560.21 million for the quarter, compared to analysts’ expectations of $645.75 million. As a group, sell-side analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 9.14%. UWM’s dividend payout ratio 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.