State Street Corp Purchases 76,221 Shares of UWM Holdings Co. (NYSE:UWMC)

State Street Corp raised its position in shares of UWM Holdings Co. (NYSE:UWMC) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,592,084 shares of the company’s stock after acquiring an additional 76,221 shares during the quarter. State Street Corp’s holdings in UWM were worth $13,723,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of UWMC. Wedmont Private Capital grew its holdings in UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock worth $171,000 after purchasing an additional 1,963 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of UWM by 8.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after buying an additional 1,991 shares during the period. Rhumbline Advisers grew its stake in shares of UWM by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock valued at $637,000 after buying an additional 3,426 shares during the period. Integrated Investment Consultants LLC raised its stake in UWM by 7.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company’s stock worth $858,000 after buying an additional 7,334 shares during the period. Finally, International Assets Investment Management LLC bought a new position in UWM in the second quarter worth approximately $52,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UWMC shares. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group decreased their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Morgan Stanley lowered their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Keefe, Bruyette & Woods reduced their price objective on shares of UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $7.28.

UWM Price Performance

UWM stock opened at $5.76 on Thursday. The stock has a market cap of $9.21 billion, a P/E ratio of -25.04 and a beta of 1.65. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average price is $6.30 and its two-hundred day moving average price is $7.47. UWM Holdings Co. has a 52 week low of $5.44 and a 52 week high of $9.74.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.94%. UWM’s dividend 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.