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

Vanguard Group Inc. increased its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 37.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,764,910 shares of the company’s stock after purchasing an additional 3,212,081 shares during the period. Vanguard Group Inc. owned approximately 0.74% of UWM worth $69,060,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in UWMC. LPL Financial LLC grew its position in shares of UWM by 19.7% during the 4th quarter. LPL Financial LLC now owns 255,171 shares of the company’s stock worth $1,498,000 after buying an additional 42,042 shares during the period. KLP Kapitalforvaltning AS acquired a new position in UWM during the fourth quarter valued at approximately $121,000. AXQ Capital LP bought a new stake in UWM in the fourth quarter valued at approximately $468,000. Sei Investments Co. acquired a new stake in UWM in the fourth quarter worth $82,000. Finally, Teacher Retirement System of Texas acquired a new stake in UWM in the fourth quarter worth $206,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Stock Performance

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

UWM (NYSE:UWMC) last released its earnings results on Wednesday, February 26th. The company reported $0.01 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 analysts’ expectations of $645.75 million. Equities analysts predict that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date was Thursday, March 20th. UWM’s dividend payout ratio (DPR) is currently 500.00%.

Wall Street Analysts Forecast Growth

UWMC has been the subject of several research analyst reports. Wedbush restated a “neutral” rating and issued a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. Morgan Stanley lowered their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $7.50 in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.25.

UWM Company Profile

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.