Citigroup Inc. Trims Stock Position in UWM Holdings Co. (NYSE:UWMC)

Citigroup Inc. lowered its holdings in shares of UWM Holdings Co. (NYSE:UWMCFree Report) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,986 shares of the company’s stock after selling 3,018 shares during the quarter. Citigroup Inc.’s holdings in UWM were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UWMC. Integrated Investment Consultants LLC increased its holdings in UWM by 2,107.2% in the 3rd quarter. Integrated Investment Consultants LLC now owns 3,592,568 shares of the company’s stock worth $17,424,000 after acquiring an additional 3,429,801 shares in the last quarter. Victory Capital Management Inc. increased its holdings in UWM by 18.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,044,367 shares of the company’s stock worth $9,915,000 after acquiring an additional 322,021 shares in the last quarter. FMR LLC increased its holdings in UWM by 30.6% in the 3rd quarter. FMR LLC now owns 6,077,084 shares of the company’s stock worth $29,474,000 after acquiring an additional 1,424,451 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in UWM in the 3rd quarter worth approximately $452,000. Finally, Procyon Advisors LLC increased its holdings in UWM by 48.4% in the 3rd quarter. Procyon Advisors LLC now owns 30,695 shares of the company’s stock worth $149,000 after acquiring an additional 10,010 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Performance

UWMC stock opened at $7.26 on Friday. UWM Holdings Co. has a 1-year low of $4.49 and a 1-year high of $7.75. The business has a 50-day moving average price of $6.80 and a 200 day moving average price of $6.09. The company has a market capitalization of $685.66 million, a P/E ratio of -38.18 and a beta of 1.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.86 and a quick ratio of 1.86.

UWM (NYSE:UWMCGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). UWM had a return on equity of 2.45% and a net margin of 0.79%. The business had revenue of ($114.58) million during the quarter, compared to analysts’ expectations of $402.14 million. As a group, equities research analysts forecast that UWM Holdings Co. will post 0.29 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Wednesday, March 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Tuesday, March 19th. UWM’s dividend payout ratio (DPR) is presently -210.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on UWMC shares. Deutsche Bank Aktiengesellschaft started coverage on shares of UWM in a report on Wednesday, January 10th. They issued a “hold” rating and a $6.00 target price for the company. Keefe, Bruyette & Woods lowered shares of UWM from a “market perform” rating to an “underperform” rating and set a $6.00 price objective for the company. in a report on Wednesday, January 10th. Finally, UBS Group reaffirmed a “sell” rating and set a $4.00 price objective on shares of UWM in a report on Wednesday, December 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.59.

Read Our Latest Report on UWMC

About UWM

(Free Report)

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.

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Institutional Ownership by Quarter for UWM (NYSE:UWMC)

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