UWM Holdings Co. (NYSE:UWMC) Shares Sold by US Bancorp DE

US Bancorp DE lowered its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 84.1% in the third quarter, Holdings Channel reports. The firm owned 4,690 shares of the company’s stock after selling 24,724 shares during the quarter. US Bancorp DE’s holdings in UWM were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares during the period. Renaissance Technologies LLC increased its stake in UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after buying an additional 199,900 shares during the period. AQR Capital Management LLC raised its position in UWM by 203.7% during the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock worth $1,784,000 after buying an additional 173,652 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in shares of UWM by 334.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock worth $1,557,000 after acquiring an additional 172,969 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of UWM by 366.1% in the third quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock valued at $1,528,000 after acquiring an additional 140,830 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Stock Up 1.5 %

UWMC opened at $5.92 on Tuesday. 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 company has a market cap of $9.45 billion, a price-to-earnings ratio of -25.72 and a beta of 1.67. UWM Holdings Co. has a one year low of $5.42 and a one year high of $9.74. The business’s fifty day moving average is $7.39 and its two-hundred day moving average is $7.68.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be given a $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a dividend yield of 6.76%. UWM’s dividend payout ratio is presently -173.91%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UWMC. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price target on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Morgan Stanley started coverage on UWM in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price target on the stock. Wedbush increased their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their target price on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.53.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. The trade was a 87.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 94.11% of the stock is owned by corporate insiders.

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.