Raymond James & Associates Reduces Holdings in UWM Holdings Co. (NYSE:UWMC)

Raymond James & Associates reduced its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,873 shares of the company’s stock after selling 2,464 shares during the quarter. Raymond James & Associates’ holdings in UWM were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in UWM by 807.1% during the 1st quarter. Parallel Advisors LLC now owns 6,613 shares of the company’s stock valued at $32,000 after acquiring an additional 5,884 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of UWM during the second quarter worth about $26,000. Captrust Financial Advisors grew its holdings in shares of UWM by 220.9% during the second quarter. Captrust Financial Advisors now owns 9,589 shares of the company’s stock worth $34,000 after buying an additional 6,601 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of UWM during the second quarter worth about $35,000. Finally, HB Wealth Management LLC purchased a new stake in shares of UWM during the second quarter worth about $57,000. 44.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UWMC has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of UWM from $4.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, August 30th. Keefe, Bruyette & Woods lowered their price target on shares of UWM from $6.75 to $5.50 in a report on Monday, October 2nd. BTIG Research upgraded shares of UWM from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Thursday, October 5th. Wedbush raised their target price on shares of UWM from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. Finally, JMP Securities cut shares of UWM from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.70.

Insider Buying and Selling at UWM

In other UWM news, Director Robert Verdun purchased 40,000 shares of UWM stock in a transaction on Wednesday, September 13th. The shares were purchased at an average cost of $5.20 per share, with a total value of $208,000.00. Following the completion of the transaction, the director now directly owns 204,725 shares in the company, valued at approximately $1,064,570. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 94.20% of the stock is currently owned by corporate insiders.

UWM Trading Up 0.4 %

Shares of UWMC stock opened at $5.44 on Tuesday. The stock has a market cap of $509.46 million, a price-to-earnings ratio of 77.71 and a beta of 1.55. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.82. UWM Holdings Co. has a fifty-two week low of $3.23 and a fifty-two week high of $6.98. The firm’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $5.49.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 7.35%. UWM’s dividend payout ratio (DPR) is 571.43%.

UWM Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.