UWM Holdings Co. (NYSE:UWMC) Stock Position Cut by Fortem Financial Group LLC

Fortem Financial Group LLC decreased its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 17.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,875 shares of the company’s stock after selling 3,900 shares during the period. Fortem Financial Group LLC’s holdings in UWM were worth $105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Philadelphia Financial Management of San Francisco LLC bought a new position in UWM during the third quarter valued at about $21,797,000. FMR LLC lifted its holdings in UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after acquiring an additional 2,010,985 shares during the last quarter. Tidal Investments LLC bought a new position in shares of UWM during the 3rd quarter valued at about $3,833,000. Carrera Capital Advisors acquired a new position in shares of UWM in the 3rd quarter worth approximately $1,727,000. Finally, Renaissance Technologies LLC raised its holdings in shares of UWM by 13.2% in the 2nd 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 in the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Stock Down 0.9 %

NYSE:UWMC opened at $5.72 on Tuesday. The business’s fifty day moving average price is $6.12 and its 200 day moving average price is $7.39. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of -24.87 and a beta of 1.66. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a 1-year low of $5.44 and a 1-year high of $9.74.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.99%. UWM’s dividend payout ratio is -173.91%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UWMC shares. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their target price on UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday. The Goldman Sachs Group reduced their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Morgan Stanley dropped their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, UWM currently has an average rating of “Hold” and an average target price of $7.22.

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.