Charles Schwab Investment Management Inc. Boosts Stock Position in UWM Holdings Co. (NYSE:UWMC)

Charles Schwab Investment Management Inc. raised its position in UWM Holdings Co. (NYSE:UWMC) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,547 shares of the company’s stock after purchasing an additional 6,257 shares during the period. Charles Schwab Investment Management Inc.’s holdings in UWM were worth $3,408,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Orion Portfolio Solutions LLC acquired a new position in UWM in the third quarter valued at $85,000. Sanctuary Advisors LLC acquired a new position in UWM during the fourth quarter worth approximately $77,000. Quantinno Capital Management LP acquired a new position in shares of UWM in the 3rd quarter valued at $106,000. HB Wealth Management LLC increased its holdings in shares of UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after buying an additional 2,631 shares during the last quarter. Finally, Secure Asset Management LLC acquired a new position in UWM in the fourth quarter valued at $119,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UWMC has been the subject of a number of research reports. Morgan Stanley decreased their target price on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $6.50 to $7.50 in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.25.

UWM Stock Up 0.3 %

Shares of UWM stock opened at $5.68 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM Holdings Co. has a 1-year low of $5.31 and a 1-year high of $9.74. The business has a 50-day moving average of $6.17 and a 200-day moving average of $6.57. The company has a market capitalization of $9.07 billion, a PE ratio of -24.67 and a beta of 1.64.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million. As a group, equities analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.05%. The ex-dividend date is Thursday, March 20th. UWM’s dividend payout ratio is currently 500.00%.

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.