Price T Rowe Associates Inc. MD Increases Holdings in UWM Holdings Co. (NYSE:UWMC)

Price T Rowe Associates Inc. MD lifted its position in shares of UWM Holdings Co. (NYSE:UWMC) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,477 shares of the company’s stock after acquiring an additional 3,524 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in UWM were worth $174,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of UWMC. Sanctuary Advisors LLC acquired a new stake in UWM during the 4th quarter valued at $77,000. Townsquare Capital LLC acquired a new stake in UWM during the 4th quarter valued at $72,000. Sei Investments Co. acquired a new stake in UWM during the 4th quarter valued at $82,000. HB Wealth Management LLC grew its holdings in UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after buying an additional 2,631 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in UWM during the 4th quarter valued at $121,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Trading Up 4.2%

Shares of UWM stock opened at $4.32 on Friday. UWM Holdings Co. has a fifty-two week low of $4.00 and a fifty-two week high of $9.74. The firm has a market cap of $6.90 billion, a PE ratio of -18.76 and a beta of 1.75. The business’s fifty day moving average is $4.94 and its two-hundred day moving average is $5.72. 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 (NYSE:UWMC) last issued its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. Analysts anticipate that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.27%. The ex-dividend date is Wednesday, June 18th. UWM’s dividend payout ratio (DPR) is currently -307.69%.

Analysts Set New Price Targets

A number of equities research analysts have commented on UWMC shares. UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and lowered their target price for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Wedbush reissued a “neutral” rating and set a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price target on UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their price target on UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, UWM has an average rating of “Hold” and an average price target of $6.86.

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.