KLP Kapitalforvaltning AS Buys New Shares in UWM Holdings Co. (NYSE:UWMC)

KLP Kapitalforvaltning AS purchased a new stake in shares of UWM Holdings Co. (NYSE:UWMC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,300 shares of the company’s stock, valued at approximately $121,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of UWM by 5.0% during the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after purchasing an additional 76,221 shares during the period. Geode Capital Management LLC boosted its stake 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 buying an additional 41,206 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in UWM by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company’s stock valued at $6,386,000 after buying an additional 147,459 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of UWM by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 580,547 shares of the company’s stock valued at $3,408,000 after buying an additional 6,257 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of UWM during the 3rd quarter worth about $3,833,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Price Performance

UWM stock opened at $4.69 on Thursday. UWM Holdings Co. has a 1 year low of $4.27 and a 1 year high of $9.74. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $7.50 billion, a P/E ratio of -20.39 and a beta of 1.64. The business has a 50-day moving average of $5.95 and a 200-day moving average of $6.29.

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

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.53%. UWM’s dividend payout ratio (DPR) is 500.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on UWMC. Morgan Stanley lowered their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Wedbush reiterated a “neutral” rating and set a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and raised 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 given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.25.

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.