Geode Capital Management LLC Sells 4,569 Shares of UWM Holdings Co. (NYSE:UWMC)

Geode Capital Management LLC decreased its holdings in UWM Holdings Co. (NYSE:UWMC) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,542,249 shares of the company’s stock after selling 4,569 shares during the period. Geode Capital Management LLC owned approximately 0.10% of UWM worth $9,056,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. grew its position in UWM by 469.0% in the fourth quarter. Alliancebernstein L.P. now owns 223,598 shares of the company’s stock valued at $1,313,000 after acquiring an additional 184,299 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of UWM by 196.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 29,711 shares of the company’s stock valued at $174,000 after purchasing an additional 19,686 shares in the last quarter. Easterly Investment Partners LLC bought a new stake in shares of UWM during the 4th quarter valued at approximately $649,000. Vanguard Group Inc. increased its position in UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock worth $69,060,000 after purchasing an additional 3,212,081 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in UWM by 19.7% in the 4th quarter. LPL Financial LLC now owns 255,171 shares of the company’s stock valued at $1,498,000 after purchasing an additional 42,042 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $6.50 price target on shares of UWM in a report on Monday, March 3rd. UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and increased their target price for the company from $6.50 to $7.50 in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, UWM currently has an average rating of “Hold” and an average target price of $7.21.

UWM Stock Performance

Shares of UWM stock opened at $4.42 on Thursday. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of -19.22 and a beta of 1.64. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a twelve month low of $4.15 and a twelve month high of $9.74. The company’s fifty day moving average is $5.61 and its 200 day moving average is $6.04.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts forecast 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 was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 9.05%. UWM’s payout ratio is 500.00%.

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.