Wilmington Savings Fund Society FSB Invests $239,000 in UWM Holdings Co. (NYSE:UWMC)

Wilmington Savings Fund Society FSB bought a new stake in shares of UWM Holdings Co. (NYSE:UWMC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 28,043 shares of the company’s stock, valued at approximately $239,000.

Other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after acquiring an additional 2,010,985 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of UWM during the third quarter valued at about $21,797,000. Renaissance Technologies LLC boosted its holdings in UWM by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the last quarter. State Street Corp grew its position in UWM by 5.0% in the 3rd quarter. State Street Corp now owns 1,592,084 shares of the company’s stock worth $13,723,000 after purchasing an additional 76,221 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after purchasing an additional 41,206 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on UWM in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 target price on the stock. UBS Group boosted their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Keefe, Bruyette & Woods decreased their target price on UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.41.

UWM Trading Down 0.3 %

Shares of UWM stock opened at $5.95 on Wednesday. The stock has a market capitalization of $9.51 billion, a P/E ratio of -25.87 and a beta of 1.65. UWM Holdings Co. has a 52-week low of $5.67 and a 52-week high of $9.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $7.55.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date is Thursday, December 19th. UWM’s payout ratio is currently -173.91%.

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.