Nuveen Asset Management LLC Sells 5,168 Shares of UWM Holdings Co. (NYSE:UWMC)

Nuveen Asset Management LLC trimmed its position in UWM Holdings Co. (NYSE:UWMC) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 237,485 shares of the company’s stock after selling 5,168 shares during the period. Nuveen Asset Management LLC’s holdings in UWM were worth $1,394,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of UWMC. SG Americas Securities LLC lifted its stake in shares of UWM by 121.4% in the 4th quarter. SG Americas Securities LLC now owns 42,725 shares of the company’s stock valued at $251,000 after acquiring an additional 23,424 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of UWM by 37.0% in the 4th quarter. Bleakley Financial Group LLC now owns 39,723 shares of the company’s stock valued at $233,000 after acquiring an additional 10,734 shares during the last quarter. Salzhauer Michael acquired a new stake in UWM in the fourth quarter valued at $880,000. Allspring Global Investments Holdings LLC increased its holdings in UWM by 103.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 57,085 shares of the company’s stock valued at $322,000 after purchasing an additional 29,042 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in UWM in the fourth quarter valued at $77,000. 53.59% of the stock is currently owned by institutional investors.

UWM Stock Performance

Shares of UWM stock opened at $4.11 on Wednesday. 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 business has a 50-day moving average price of $4.53 and a two-hundred day moving average price of $5.55. UWM Holdings Co. has a 1-year low of $3.89 and a 1-year high of $9.74. The company has a market cap of $6.57 billion, a P/E ratio of -17.87 and a beta of 1.75.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million during the quarter, compared to analysts’ expectations of $558.80 million. As a group, analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.73%. UWM’s payout ratio is currently -307.69%.

Analyst Upgrades and Downgrades

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

UWM 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.