Blue Trust Inc. Buys 17,545 Shares of UWM Holdings Co. (NYSE:UWMC)

Blue Trust Inc. increased its stake in UWM Holdings Co. (NYSE:UWMC) by 106.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,995 shares of the company’s stock after purchasing an additional 17,545 shares during the quarter. Blue Trust Inc.’s holdings in UWM were worth $290,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares during the period. Renaissance Technologies LLC raised its position in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after acquiring an additional 199,900 shares during the period. AQR Capital Management LLC boosted its stake in shares of UWM by 203.7% during the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock worth $1,784,000 after acquiring an additional 173,652 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of UWM by 334.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock worth $1,557,000 after acquiring an additional 172,969 shares during the last quarter. Finally, Inspire Investing LLC grew 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 valued at $1,528,000 after acquiring an additional 140,830 shares during the period. Institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,449,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 94.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

UWM Trading Up 1.5 %

Shares of UWMC opened at $6.69 on Friday. The firm has a market cap of $639.42 million, a P/E ratio of 223.00 and a beta of 1.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. UWM Holdings Co. has a 1 year low of $4.77 and a 1 year high of $9.74. The company has a 50 day simple moving average of $8.44 and a two-hundred day simple moving average of $7.67.

UWM (NYSE:UWMC) last posted its 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 for the quarter, compared to the consensus estimate of $540.31 million. During the same period last year, the firm earned $0.11 earnings per share. On average, equities analysts expect that UWM Holdings Co. will post 0.26 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 5.98%. UWM’s dividend payout ratio (DPR) is 1,333.33%.

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.