Allspring Global Investments Holdings LLC Sells 13,789 Shares of UWM Holdings Corporation (NYSE:UWMC)

Allspring Global Investments Holdings LLC reduced its position in shares of UWM Holdings Corporation (NYSE:UWMC) by 24.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,296 shares of the company’s stock after selling 13,789 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UWM were worth $232,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after purchasing an additional 3,212,081 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in UWM by 15.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company’s stock valued at $2,229,000 after purchasing an additional 54,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in UWM by 112.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company’s stock valued at $648,000 after purchasing an additional 62,862 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in UWM during the 4th quarter valued at about $121,000. Finally, Wells Fargo & Company MN increased its position in UWM by 9.9% in the 4th quarter. Wells Fargo & Company MN now owns 64,970 shares of the company’s stock valued at $381,000 after acquiring an additional 5,849 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $4.26, for a total transaction of $1,704,153.36. Following the completion of the sale, the chief executive officer owned 2,699,460 shares in the company, valued at $11,499,699.60. The trade was a 12.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 3,600,324 shares of company stock worth $14,853,337. 87.50% of the stock is owned by insiders.

Analysts Set New Price Targets

UWMC has been the subject of several research reports. Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $6.50 to $4.50 in a research report on Thursday. Barclays upgraded shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Wednesday, July 2nd. Finally, UBS Group upgraded shares of UWM from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. 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, the company has an average rating of “Hold” and an average price target of $6.18.

UWM Stock Up 0.2%

Shares of NYSE:UWMC opened at $4.16 on Friday. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $9.74. The company has a 50 day moving average of $4.18 and a 200-day moving average of $5.17. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of -32.00 and a beta of 1.68.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. On average, sell-side analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.62%. The ex-dividend date of this dividend was Wednesday, June 18th. UWM’s dividend payout ratio is -307.69%.

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.