Truist Financial Corp Sells 5,591 Shares of UWM Holdings Co. (NYSE:UWMC)

Truist Financial Corp lessened its position in UWM Holdings Co. (NYSE:UWMC) by 21.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,070 shares of the company’s stock after selling 5,591 shares during the quarter. Truist Financial Corp’s holdings in UWM were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in UWM during the first quarter valued at about $29,000. Atlas Capital Advisors LLC grew its position in UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after acquiring an additional 3,309 shares during the last quarter. CWM LLC increased its stake in UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares during the period. International Assets Investment Management LLC bought a new stake in UWM in the second quarter valued at approximately $52,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of UWM during the first quarter valued at approximately $55,000. Institutional investors own 53.59% of the company’s stock.

Insider Activity at UWM

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.11, for a total value of $45,550,000.00. Following the sale, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,562,547.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 94.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UWMC shares. BTIG Research lifted their target price on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group boosted their price objective on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, August 8th. UBS Group increased their target price on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods boosted 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. Finally, Wedbush increased their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.68.

UWM Stock Performance

Shares of UWMC opened at $7.29 on Monday. UWM Holdings Co. has a one year low of $4.77 and a one year high of $9.74. The company has a 50-day simple moving average of $8.56 and a two-hundred day simple moving average of $7.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $696.76 million, a PE ratio of 243.00 and a beta of 1.63.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the previous year, the company earned $0.11 EPS. On average, analysts anticipate that UWM Holdings Co. will post 0.26 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 5.49%. UWM’s payout ratio is 1,333.33%.

About UWM

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.