UWM (NYSE:UWMC) Upgraded at Argus

Argus upgraded shares of UWM (NYSE:UWMC) to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group set a $4.40 price objective on shares of UWM in a report on Wednesday, February 25th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a research report on Tuesday, January 6th. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods cut their price target on UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 27th. Finally, Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.49.

UWM Trading Up 2.3%

NYSE UWMC opened at $3.73 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. UWM has a 52 week low of $3.38 and a 52 week high of $7.14. The business has a 50 day moving average price of $4.39 and a 200-day moving average price of $5.10. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 62.08 and a beta of 1.93.

UWM (NYSE:UWMC) last issued its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The firm had revenue of $945.25 million during the quarter, compared to the consensus estimate of $759.12 million. As a group, equities analysts expect that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 10.7%. UWM’s dividend payout ratio is presently 666.67%.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,000,574 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $3.55, for a total transaction of $3,552,037.70. Following the transaction, the chief executive officer directly owned 2,329,857 shares of the company’s stock, valued at $8,270,992.35. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,458,742 shares of company stock valued at $105,615,626 in the last three months. Corporate insiders own 87.50% of the company’s stock.

Institutional Investors Weigh In On UWM

Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of UWM during the 1st quarter worth approximately $92,000. Focus Partners Wealth bought a new position in shares of UWM in the first quarter valued at approximately $55,000. Geode Capital Management LLC grew its holdings in shares of UWM by 47.5% in the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock valued at $9,997,000 after acquiring an additional 777,264 shares in the last quarter. Creative Planning increased its position in shares of UWM by 300.2% during the second quarter. Creative Planning now owns 135,816 shares of the company’s stock valued at $562,000 after acquiring an additional 101,883 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in UWM by 20.5% during the second quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock worth $468,000 after acquiring an additional 19,239 shares during the period. 53.59% of the stock is owned by institutional investors.

About UWM

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.