State Street Corp Has $13.72 Million Holdings in UWM Holdings Co. (NYSE:UWMC)

State Street Corp increased its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 5.0% in the 3rd 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 purchasing an additional 76,221 shares during the quarter. State Street Corp owned approximately 1.67% of UWM worth $13,723,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Squarepoint Ops LLC raised its holdings in UWM by 24.5% during the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock worth $2,372,000 after acquiring an additional 67,383 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of UWM by 13.2% during 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 during the last quarter. Inspire Investing LLC increased its position in shares of UWM by 366.1% during the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock worth $1,528,000 after purchasing an additional 140,830 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of UWM by 56.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company’s stock valued at $3,541,000 after buying an additional 149,216 shares during the last quarter. Finally, Carrera Capital Advisors acquired a new stake in shares of UWM in the 3rd quarter valued at approximately $1,727,000. Institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group upped their price target 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. Keefe, Bruyette & Woods cut their target price on shares of UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group dropped their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Morgan Stanley reduced their target price on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. One equities 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.28.

UWM Price Performance

Shares of NYSE:UWMC opened at $5.76 on Thursday. The firm has a market cap of $9.21 billion, a PE ratio of -25.04 and a beta of 1.65. UWM Holdings Co. has a 52 week low of $5.44 and a 52 week high of $9.74. The firm’s fifty day moving average is $6.30 and its 200-day moving average is $7.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM Announces Dividend

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