Charles Schwab Investment Management Inc. Buys 7,846 Shares of UWM Holdings Co. (NYSE:UWMC)

Charles Schwab Investment Management Inc. grew its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 574,290 shares of the company’s stock after acquiring an additional 7,846 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of UWM worth $4,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC increased its holdings in shares of UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of UWM during the second quarter valued at $52,000. Xponance Inc. purchased a new stake in shares of UWM during the second quarter valued at $76,000. Intech Investment Management LLC purchased a new stake in shares of UWM during the second quarter valued at $85,000. Finally, McAdam LLC boosted its position in shares of UWM by 16.0% during the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after buying an additional 1,758 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UWMC has been the topic of several recent analyst reports. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. Morgan Stanley assumed coverage on UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective on the stock. UBS Group raised their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Keefe, Bruyette & Woods dropped their target price on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their target price on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.41.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the transaction, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at $1,449,344. The trade was a 87.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 94.11% of the company’s stock.

UWM Stock Down 3.7 %

UWMC stock opened at $6.02 on Friday. UWM Holdings Co. has a twelve month low of $5.67 and a twelve month high of $9.74. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market cap of $9.62 billion, a P/E ratio of -26.17 and a beta of 1.65. The business’s 50-day moving average price is $6.55 and its 200-day moving average price is $7.56.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.64%. UWM’s payout ratio is currently -173.91%.

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.